Tawfeer Market, an Egyptian online grocery company, raises $500k in seed round

Tawfeer Market is an online grocery retailer that operates from Alexandria, Egypt’s second-largest city. It has raised US$500,000 to continue its impressive early growth.

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Tawfeer Market was launched towards the end 2019 and allows users to search for groceries and order them via an app. It then delivers these groceries through its fulfillment arm. With more than 100,000 downloads, the quick commerce app is growing at a steady rate of two digits per month.

Tawfeer Market closed a US$500,000 seed round with contributions from the Alexandria Business Angels Network to help it grow and expand beyond Alexandria. AUC VLab was also recently completed by the startup.

Ahmad Fasseeh is the CEO and co-founder of Tawfeer Market. However, Egypt’s market for grocery retail is still small.

“The future of Egypt’s online grocery shopping is set to explode, allowing many players to meet different needs. The three main criteria for grocery shoppers are convenience, price, and variety. Tawfeer Market strives to provide the best formula for satisfying consumer needs by offering the most frequently ordered 4,000 SKUs including fresh and frozen foods at the lowest prices within 60 minutes,” said he.

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