Egyptian e-commerce startup Kemitt secures undisclosed six-figure funding from Saudi angel investors
Egyptian e-commerce startup Kemitt announced on Thursday it had secured an undisclosed six-figure investment in a seed funding round from a group of Saudi Angel investors.
The funding will go for expanding Kemitt’s team, operations, and further developing its technology, with an eye to entering new markets in the region, starting with Saudi Arabia, the company said in a statement.
“We are very excited about the opportunity this investment gives us. It will enable us to scale up our operations and expand to new markets,” said Mahmoud Fouad, co-founder and chief executive of Kemitt.
He added that the goal is to put Kemitt as a first choice when the customer considers furniture shopping.
“We invest in technology to drive growth, as we have prioritised solving logistical pain-points to ensure a smooth journey from the factory to customers’ houses. We believe that digitising the furniture industry in the region is crucial for the local economy,” Fouad concluded.
Founded in 2017, Kemitt acts as an online marketplace connecting product and furniture designers with customers, while the company itself “handles all the manufacturing, overhead, and last-mile logistics.” The company provides a range of online payment options and financing plans, creating a digital end-to-end home shopping experience.