An Egyptian e-grocery marketplace, ON Market, has announced raising US$215,000 in pre-seed funding.
On Market CEO, Moataz Marzouk, confirmed the development in a statement.
Moataz noted that the latest funding will help the company to further expand across the country.
Ripples Nigeria gathered that On Market is a graduate of AUC Venture Lab’s acceleration programme in 2021.
The startup connects customers through their app with nearby grocery retailers, enabling them to order from multiple retailers in a single order.
The app-based startup was founded by Moatasem Marzouk, Seif Yasser, Ahmed Najjar, and Moataz Marzouk in 2020.
Marzouk, while commenting on the intent and raiser, said:
“Our customers have trust and loyalty to brands and retailers that cannot be easily replaceable.
“We develop our products in-house to connect them with the retailers they trust and love, where they can follow their latest offers, pricing updates, and product availability.
“For the first time in the market, we allow them to order from multiple stores by placing only one order and getting it delivered all at once.”