Digital marketplace Mataa secures funding to expand digital commerce reach in Libya and North Africa.
Mataa, a Libyan e-commerce platform, has successfully closed its first Seed investment round, securing funding from a group of Libyan business angels. This investment marks a significant step forward for Mataa, as it aims to accelerate its expansion in Libya and across the North African region.
The funds will primarily be used to enhance operational capacities, with a focus on improving first-mile and last-mile logistics. Mataa plans to expand its central warehouse, onboard new suppliers, and add new product categories to its platform. Ibrahim Shuwehdi, Founder and CEO of Mataa, emphasised that these investments will help the company to offer a more comprehensive shopping experience to its users.
Mataa's business model is designed to empower Libyan merchants, enabling them to reach over 6 million internet users nationwide. The platform supports Facebook-based sellers, offering seamless product integration to boost conversions and reduce reliance on paid advertising. Shuwehdi highlighted Libya's strategic location at the heart of a 275 million-person, $830 billion-gross North African market as a key factor in attracting this investment.
Beyond financial support, the seed round aims to stimulate more venture capital activity within Libya's startup ecosystem. Shuwehdi views the investment as a signal to encourage more venture investment in Libyan startups and Small and Medium-sized Enterprises (SMEs). He believes that this investment will help to validate the company and the Libyan startup ecosystem, serving as a catalyst for further growth.
In addition to enhancing its operational infrastructure, Mataa also plans to recruit experienced regional talent in the e-commerce sector to support its strategic growth. The company is committed to long-term growth in the e-commerce sector, and this investment will help it to achieve this goal.
In conclusion, Mataa is currently focused on scaling its operational infrastructure and marketplace offerings while expanding its presence regionally throughout North Africa. The Seed investment round is not just a financial boost for Mataa, but also a sign of validation for the company and the Libyan startup ecosystem. The investment was backed by a group of Libyan business angels, and Mataa is confident that this partnership will help it to achieve its ambitious expansion plans.
[1] Mataa Secures Seed Funding for Expansion. (2022). Retrieved from [https://www.mataa.com/news/mataa-secures-seed-funding-for-expansion] [2] Libyan E-commerce Platform Mataa Raises Seed Funding. (2022). Retrieved from [https://www.arabianbusiness.com/technology/414267-libyan-ecommerce-platform-mataa-raises-seed-funding] [3] Libyan Startup Mataa Secures Seed Funding. (2022). Retrieved from [https://www.startuptunisia.com/libyan-startup-mataa-secures-seed-funding/] [4] North African E-commerce Platform Mataa Secures Seed Funding. (2022). Retrieved from [https://www.africabusinesscommunities.com/north-africa/north-african-ecommerce-platform-mataa-secures-seed-funding/]
- The Seed investment round will primarily support Mataa's expansion, focusing on improving technology infrastructure, recruiting talented personnel, and adding new product categories, thereby validating the Libyan startup ecosystem as a promising avenue for finance and business.
- Mataa's strategic growth plans involve strengthening logistics, onboarding new suppliers, and partnering with regional talent in the e-commerce sector, aiming to offer a comprehensive lifestyle experience to customers across Libya and North Africa, leveraging technology to dually empower local merchants and expand its market presence.
