Egypt's Kemitt expands into Saudi Arabia after new funding

STARTUP VENTURE CAPITALJuly 22, 2024 at 10:27 PM UTC

TLDR

Kemitt, an Egypt-based e-commerce platform, specializing in furniture, expands into Saudi Arabia after securing undisclosed funding.
Founded in 2018, Kemitt acts as a marketplace linking designers with consumers, managing manufacturing, overhead, and logistics.
Recent funding aims to improve user interface, scale logistics, diversify products, and form local partnerships in Saudi Arabia.

Egypt-based e-commerce platform Kemitt, specializing in furniture, has expanded into Saudi Arabia following an undisclosed funding round.

Founded in 2018, Kemitt serves as a marketplace that connects product and furniture designers with consumers. The startup manages all aspects of manufacturing, overhead, and last-mile logistics.

The recent funding will be used to enhance the platform’s user interface, scale logistics, and customer service operations in Saudi Arabia, diversify the product portfolio, and establish local partnerships.

Points clés à retenir

While digital commerce in developed countries is growing at a rate of 13% annually, Africa is experiencing even more rapid expansion, with online sales increasing by 25%, as highlighted by Payments and Commerce Market Intelligence (PCMI). By 2026, the digital commerce market in Africa is projected to reach a total value of $72 billion across its top five markets: Egypt, Kenya, Morocco, Nigeria, and South Africa. Furthermore, over the next decade, Africa is expected to contribute more to consumer spending than Europe.

E-commerce

Kemitt

Egypt

Saudi Arabia

MENA

Expansion

Startups

Funding