E-commerce platform Kenzz that brings shopping to the mass market in Egypt and MENA, raised $3.5 million in seed led by U.S.-based and MENA-focused venture capital firm Outliers Venture Capital where investors including HOF Capital, Foundation Ventures, and Samurai Incubate also participated.
Kenzz's model is similar to that of players such as Taager because it is social. The mass e-commerce solution, on the other hand, takes a B2C approach by eliminating the middleman/resellers, sourcing products directly from local manufacturers, and offering them to consumers. The seed round will be used to expand its product categories, broaden the product categories on its platform, hire talent, and invest in technology as it launches its app. When consumers make group purchases with friends and family, they can receive discounts of up to 65%.