In its first post-merger transfer, MaxAB-Wasoko, the B2B e-commerce big fashioned from the 2024 merger between Kenya’s Wasoko and Egypt’s MaxAB, has acquired Fatura, an Egypt-based B2B e-marketplace, from EFG Finance. The deal is a recent push to consolidate retail and provide chain know-how throughout African markets.
As a part of the acquisition, EFG Finance has grow to be a key shareholder in MaxAB-Wasoko and sits on the corporate’s board. The worth of the transaction was not disclosed.
The acquisition deepens MaxAB-Wasoko’s footprint in Egypt, the place Fatura has constructed an asset-light digital market connecting over 626 wholesalers to retailers in 16 cities, in accordance with an announcement seen by TechCabal. 5 of these cities can be added to MaxAB-Wasoko’s community. With Fatura absolutely built-in, the corporate claims its retail platform gives a broader product assortment and regional protection.
“The acquisition of Fatura is greater than a progress play,” stated Belal El-Megharbel, CEO of MaxAB-Wasoko. “It’s the realisation of our ambition to grow to be the go-to, one-stop store for retailers all through Africa.”
The deal marks the primary strategic transfer by MaxAB-Wasoko since each corporations accomplished an all-stock merger in August 2024, which created one in all Africa’s largest B2B commerce platforms, collectively led by MaxAB’s Belal El-Megharbel and Wasoko’s Daniel Yu. On the time, the businesses promised to make use of their mixed strengths to construct a regional participant to sort out fragmented provide chains and widen entry to monetary instruments for small retailers.
Not like MaxAB-Wasoko’s provide chain-heavy mannequin, which controls distribution end-to-end, Fatura runs an asset-light market connecting suppliers to retailers. It additionally has a historical past of fintech operations below Tanmeyah, an EFG Holding subsidiary. MaxAB-Wasoko plans to layer its embedded monetary companies into the Fatura community, together with credit score entry for inventory purchases.
Fatura is projected to contribute round 25% of MaxAB-Wasoko’s Egypt income by the tip of 2025.
The mixed entity, which is valued at over $500 million, now operates in Egypt, Kenya, Tanzania, Rwanda, and Morocco, helps a community of 450,000 retailers and serves an estimated 65 million customers. Wasoko exited Zambia, Uganda, and Zanzibar shortly earlier than the merger.
Whereas the brand new firm nonetheless hasn’t introduced a proper title, it seems to have settled on Wasoko-MaxAB. The mixed entity instructed the TechCabal in August 2024 that it deliberate to finish the mixing of the 2 platforms and workers inside 60 days of the deal.