Taager Raises $6.75m Pre-Series B Round to Fuel Growth in MENA
Summary
Taager, the leading social e-commerce platform for the MENA region, today announced the completion of its $6.75m Pre-Series B funding round, led by Africa-focused tech growth fund Norrsken22.This round will enable the company to fuel its growth in the Middle East.The oversubscribed round included participation from Endeavor Catalyst, Beltone VC, in addition to all existing investors including 4DX Ventures, RAED Ventures, BECO Capital and Breyer Capital.Over the past two decades, social e-commerce, which is the process of directly buying and selling products through social media platforms, has evolved from a mere concept to a prominent shopping method poised to overtake traditional retail. Through machine learning applications, able to serve their merchants through intelligent product bundling/matching, and predict and segment the end customer persona and their delivery rate, driving more profits to the Merchants.Taager is also utilizing the recent advancements of generative AI and extending its scalable operations Tech platform with the use of AI Sales Agents, able to serve more merchants and end customers with same and less capex requirements.Mohamed Elhorishy, Taagers Co-founder and CEO, says Our mission is to enable absolutely anyone to start and scale a profitable social e-commerce business. This platform has helped thousands of people to achieve a stable income, secure financial independence and pay off debts.Today, up until today Taager served over 45,000 online social sellers. This funding will support the companys growth within MENA by allowing them to further build out their data insights and tools for social sellers, expand their product selection and scale their skilled team.Mohamed Elhorishy, Co-founder and CEO of Taager, says: Taager has created its own category, which means we have had to spend the past five years building social commerce fundamentals from the ground up. We have laid the groundwork to enable us to grow five times within the next few years.Nivesh Pather, Principal at Norrsken22, says: Taager is redefining e-commerce in the MENA region by empowering thousands of entrepreneurs with the tools, insights, and infrastructure to build and scale their businesses.