Kenzz, an Egyptian mass e-commerce solution, has raised $3.5 million in a seed funding round headed by Outliers Venture Capital.
Angel investors are among the participants in this funding round, which also includes HOF Capital, Foundation Ventures, Samurai Incubate, and others.
Ahmed Atef, Mahmoud AlSilk, and Moataz Sami founded Kenzz in 2022 to offer the people of Egypt and Mena a premier, dependable mass e-commerce solution.
With discounts of up to 65%, Kenzz’s customer-centric platform digitalizes the offline experience to make it engaging, enjoyable, and social for users across all customer touchpoints. Internet usage statistics and shopping data conceal the fact that e-commerce in Egypt and, to a greater extent, Mena, has not yet been fully realized and optimized.
The startup’s model, which is reflective of the everyday behavior and demands of the consumer masses and makes online buying easy to reach, bridges the gap between traditional offline and online purchasing.
Lack of trust, the availability of deals, complexity, a one-way transactional procedure, a lack of personalization, a lack of insightful relevancy, and duplicate technology are the main objections consumers have to make purchases online, which are all addressed by Kenzz.
By providing them with data, insights, and connections to prospective hard-to-reach end users, Kenzz’s model helps regional manufacturers and SMEs build their businesses.
“We are happy to complete this seed fundraise, and we thank all of our investors for their support,” Kenzz CEO Ahmed Atef stated. In Egypt and the MENA region, the moment is right to completely utilize e-commerce. We especially created Kenzz to appeal to those who aren’t yet convinced that online purchasing is a useful and common practice. In order to bring relevance, convenience, trust, and value, we are revolutionizing the buying experience. We have high confidence in the future.
The additional funding will be used to expand product categories, assemble a wide range of products to suit the preferences and tastes of various customer segments, continue hiring talent, invest in technology, and soon release its new app.
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