Brimore has raised US$3.5-million in a funding round led by Algebra Venture and the investment is expected to expand the company’s operations and reach a larger market within Egypt. Brimore is an Egyptian social commerce distribution platform that enables manufacturers to sell their products directly to customers through a network of micro-distributors. The company was established in 2017 by Mohamed Abdulaziz, Ahmed Sheikha and Mahmoud Refaay and has since built a comprehensive supply chain network to facilitate trade within Egypt.
Algebra Ventures is a well-known technology venture capital firm in Egypt that invests in core technology, e-commerce, fintech, industry marketplaces, business software and consumer internet companies. The firm has invested in companies such as Larena, Elmenus, Eventtus, Holidayme and Orcas amongst others. Algebra Ventures has previously participated in a funding round of US$800,000 for Brimore in 2019.