Saudi's Taager secures $6.75 million in pre-Series B funding for expansion of dropshipping platform
Taager, a social e-commerce platform based in the MENA region, has raised $6.75 million in a pre-Series B funding round, led by Africa-focused tech growth fund Norrsken22. The round also saw participation from several existing investors, including Endeavor Catalyst, Beltone VC, 4DX Ventures, RAED Ventures, BECO Capital, and Breyer Capital.
Founded in 2019 by Mohamed Elhorishy, Abdelrahman Sherief, Ahmed Ismail, and Ismail Omar, Taager aims to accelerate its expansion across the MENA region, improve and scale its AI-driven sales tools, and strengthen operations in its key markets, including Egypt, Saudi Arabia, the UAE, and Iraq.
The company's mission is to enable anyone to start and scale a profitable social e-commerce business. Taager achieves this by providing comprehensive infrastructure for social e-commerce merchants, encompassing storage, shipping, payment processing, and product catalogues. The platform's technology leverages machine learning for intelligent product bundling and customer segmentation, and has recently integrated generative AI to scale its operations through AI sales agents.
With the fresh funds, Taager plans to enhance data insights and tools for social sellers, expand the product selection, and grow the team. The company's growth strategy also includes continuing to expand its marketplace, supporting over 34,000 social sellers with access to more than 2,500 products, while improving operational quality and execution to reshape the social commerce landscape in the region.
Taager claims to increase merchant profitability by 2.5x on average. The company started in Egypt and is now headquartered in Saudi Arabia, and has expanded its operations to include the UAE and recently entered the Iraqi market. Notable competitors in the region include Zambeel.
The funding injection is specifically targeted at regional scale-up and bolstering AI-driven tools that empower its merchants to start and grow e-commerce businesses effectively in a low-risk environment. Taager enables individuals to launch and scale e-commerce businesses by providing them with products, storage, shipping, and customer collection services.
With this latest round of funding, Taager is well-positioned to continue its growth and make a significant impact in the social e-commerce landscape of the MENA region.
- Taager's newly acquired funds will be utilized to strengthen its business by improving its AI-driven tools, enhancing data insights, expanding product selection, and growing the team, aiming to make a significant impact in the finance sector of the MENA region through investing in technology.
- By providing comprehensive infrastructure for social e-commerce merchants, including storage, shipping, payment processing, and product catalogues, Taager is not only revolutionizing the business landscape but also empowering individuals to invest in and scale profitable social e-commerce businesses in the MENA region, leveraging technology and machine learning.
