Two of Africa’s top B2B e-commerce companies, Wasoko from Kenya and MaxAB from Egypt, have just announced that they’re merging (1)

Two of Africa’s top B2B e-commerce companies, Wasoko from Kenya and MaxAB from Egypt, have just announced that they’re merging. This merger is a big deal because it’s going to have a major impact on Africa’s informal retail sector.

You might remember Wasoko, formerly known as Sokowatch. They recently closed a massive Series B equity round, raising a whopping $125 million in March 2022. Wasoko offers a mobile app that allows retailers to easily restock their products and enjoy free same-day delivery. And get this, they operate in multiple countries including Kenya, Tanzania, Rwanda, Uganda, Zambia, and the Democratic Republic of Congo (DRC).

Now, with the merger between Wasoko and MaxAB, they’re joining forces to drive the transformation of Africa’s informal retail sector. It’s an exciting move that will bring together the strengths and expertise of both companies. I can’t wait to see the positive impact they’ll make in the region!

This merger between Wasoko and MaxAB is a game-changer for Africa’s B2B e-commerce landscape. By combining their forces, they’re set to revolutionize the informal retail sector across the continent.

Wasoko, formerly known as Sokowatch, has been making waves with its innovative approach to restocking products for retailers. With their mobile app and free same-day delivery, they’ve been serving businesses in Kenya, Tanzania, Rwanda, Uganda, Zambia, and the Democratic Republic of Congo (DRC). And let’s not forget about MaxAB, a key player in Egypt’s e-commerce scene.

Now, with their merger, Wasoko and MaxAB are poised to create even more impact. They’re bringing together their expertise and resources to drive the transformation of Africa’s informal retail sector. This means more opportunities for retailers, improved access to products, and a boost to the local economies.

I’m really excited to see how this merger unfolds and the positive changes it will bring to the African market. 

 These two awesome B2B e-commerce companies are teaming up to make a big impact on Africa’s informal retail sector.

You remember Wasoko, right? They used to go by the name Sokowatch. They recently closed a massive Series B equity round, raising a whopping $125 million in March 2022. And guess what? They’ve got this cool mobile app that lets retailers restock their products with free same-day delivery. And they’re not just limited to one country, oh no! They operate in Kenya, Tanzania, Rwanda, Uganda, Zambia, and the Democratic Republic of Congo (DRC). That’s quite a reach!

Now, with this merger with MaxAB, they’re joining forces to shake things up even more. They’re all about transforming Africa’s informal retail sector.

They were founded in 2018 and are all about helping local underserved merchants and mom-and-pop shops in Egypt and Morocco. Their mission is to help these businesses grow, increase their revenues, and enhance their overall quality of life. Pretty cool, right?

And get this, MaxAB recently closed its own pre-Series B equity round, raising a solid $40 million in October 2022. That’s some serious funding!

Now, here’s where things get even more exciting. Despite the challenging fundraising climate in Africa, both Wasoko and MaxAB have announced a “merger of equals.” They believe that this merger will fuel their growth and development, making them the most successful digital retail platform on the continent. The details are still being worked out, like what the new entity will be called and how the share split will be structured. But one thing’s for sure, they’re determined to bring innovative solutions and technology-enabled services to retailers in Africa’s informal retail sector.

I’m super proud of what MaxAB and Wasoko have achieved individually.

 The merger between MaxAB and Wasoko is a big step towards unlocking the potential of Africa’s informal retail sector. By combining their strengths and expertise, they aim to provide a wide range of technology-enabled services to support local businesses in the region. It’s an exciting development that will surely have a positive impact on the growth and success of these merchants. I’m thrilled to see how this merger unfolds and the positive changes it brings to the retail landscape in Africa. 

So, MaxAB CEO Belal El-Megharbel is super confident about the merger between MaxAB and Wasoko. He believes that their combined strengths in e-commerce, fintech, and logistics will create some awesome synergies. And you know what that means? It’s gonna empower their customers and partners all across the continent. How cool is that?

On the other hand, Wasoko CEO Daniel Yu is equally pumped about this merger. He launched Wasoko in Kenya back in 2016 with the goal of becoming a truly pan-African company. And guess what? This merger is like the boldest step they’ve taken towards achieving that dream. They’re all about empowering businesses and connecting consumers across Africa with affordable and diverse essential products. Together, MaxAB and Wasoko are gonna make big waves and build an amazing partnership.

The merger between MaxAB and Wasoko is such an exciting development. It’s all about combining their strengths in e-commerce, fintech, and logistics to empower customers and partners across the continent. MaxAB CEO Belal El-Megharbel is confident that the natural synergies between the two companies will bring about positive changes. And Wasoko CEO Daniel Yu shares that sentiment too! He sees this merger as a bold step towards their shared vision of becoming a pan-African company. Together, they’re committed to empowering businesses and connecting consumers with affordable and diverse essential products.

 It’s a super exciting development in the world of e-commerce, fintech, and logistics. The CEOs, Belal El-Megharbel and Daniel Yu are both really pumped about it. They believe that by joining forces, they’ll be able to empower customers and partners all across the continent.

I totally get your excitement about the MaxAB and Wasoko merger. It’s gonna be a game-changer, my friend! With their combined forces, they’re gonna revolutionize e-commerce and logistics in Africa. Businesses will have more opportunities to thrive, and consumers will have access to a wider range of products. It’s all about empowering people and creating positive change. 

The CEOs, Belal El-Megharbel and Daniel Yu, are super excited about this opportunity. They believe that by joining forces, they can make a big impact and bring positive changes.