{"id":19645,"date":"2022-11-23T18:06:54","date_gmt":"2022-11-23T18:06:54","guid":{"rendered":"https:\/\/www.meretailnews.com\/?p=19645"},"modified":"2022-11-23T18:08:17","modified_gmt":"2022-11-23T18:08:17","slug":"egyptian-e-commerce-platform-solution-kenzz-secures-3-5-million-in-seed-funding-round","status":"publish","type":"post","link":"https:\/\/www.meretailnews.com\/2022\/11\/23\/egyptian-e-commerce-platform-solution-kenzz-secures-3-5-million-in-seed-funding-round\/","title":{"rendered":"Egyptian e-commerce platform solution Kenzz secures $3.5 million in seed funding round"},"content":{"rendered":"<p><!-- VideographyWP Plugin Message: Automatic video embedding prevented by plugin options. --><br \/>\n<span data-preserver-spaces=\"true\">Egypt-based mass <a href=\"https:\/\/www.meretailnews.com\/2022\/11\/02\/egyptian-bnpl-fintech-valu-invests-in-live-shopping-platform-hoods\/\">e-commerce<\/a> start-up Kenzz has grabbed $3.5 million in a seed funding round led by Outliers Venture Capital.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">The new start-up, founded only this February by\u00a0<\/span><span data-preserver-spaces=\"true\">Ahmed Atef<\/span><span data-preserver-spaces=\"true\">,\u00a0<\/span><span data-preserver-spaces=\"true\">Mahmoud Al Silk<\/span><span data-preserver-spaces=\"true\">\u00a0and\u00a0<\/span><span data-preserver-spaces=\"true\">Moataz Sami<\/span><span data-preserver-spaces=\"true\">, will use the seed round to broaden its product categories and invest in recruiting talent and in tech while simultaneously focusing on launching its app.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">CEO of Kenzz, Ahmed Atef, said: \u201cWe are delighted to complete this seed fundraise, and we thank all our investors for their support. The time is ripe to fully optimize eCommerce in Egypt and the Mena.\u201d\u00a0<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">According to <em>Go-Globe<\/em> e-commerce data, 20 per cent of <a href=\"https:\/\/www.meretailnews.com\/2022\/09\/07\/uaes-buy-now-pay-later-platform-tabby-expands-to-egypt\/\">tech startups in Egypt<\/a> are in the e-commerce and retail sectors. Several factors are responsible for spurring this sector, including a young and urban population that has increased in tandem with internet and mobile penetration rates increasing over the last years. Moreover, approximately 40 per cent of Egyptians reported purchasing consumer goods online weekly.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">\u201cWe\u2019re going after a completely different segment that Amazon and the big platforms are not looking at as they are centralized in big cities and towards the people who are comfortable buying online,\u201d said Mr Atef.\u00a0<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">\u201cWhat we\u2019re doing is bringing that experience much closer to the masses and building a reliable, trustworthy e-commerce platform that caters specifically for the mass market, solving for the barriers to buying, whether it\u2019s trust, affordability and relevance, while capitalizing on social engagement and social interaction aspects of e-commerce.\u201d<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">The platform also gives consumers discounts of up to 65 per cent when they make collective purchases with friends and family.\u00a0<\/span><\/p>\n<h1><\/h1>\n<h1><\/h1>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Egypt-based e-commerce platform solution Kenzz has grabbed $3.5 million in a seed funding round aiming to spend the money on broadening its product categories and seeking out talent <\/p>\n","protected":false},"author":40,"featured_media":17790,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[154,1,4106],"tags":[3973],"_links":{"self":[{"href":"https:\/\/www.meretailnews.com\/wp-json\/wp\/v2\/posts\/19645"}],"collection":[{"href":"https:\/\/www.meretailnews.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.meretailnews.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.meretailnews.com\/wp-json\/wp\/v2\/users\/40"}],"replies":[{"embeddable":true,"href":"https:\/\/www.meretailnews.com\/wp-json\/wp\/v2\/comments?post=19645"}],"version-history":[{"count":4,"href":"https:\/\/www.meretailnews.com\/wp-json\/wp\/v2\/posts\/19645\/revisions"}],"predecessor-version":[{"id":19649,"href":"https:\/\/www.meretailnews.com\/wp-json\/wp\/v2\/posts\/19645\/revisions\/19649"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.meretailnews.com\/wp-json\/wp\/v2\/media\/17790"}],"wp:attachment":[{"href":"https:\/\/www.meretailnews.com\/wp-json\/wp\/v2\/media?parent=19645"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.meretailnews.com\/wp-json\/wp\/v2\/categories?post=19645"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.meretailnews.com\/wp-json\/wp\/v2\/tags?post=19645"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}