Africa’s e-commerce giant MaxAB-Wasoko has acquired Fatura, a leading Egyptian B2B e-commerce platform owned by EFG finance. The acquisition, announced on May 20, marks a pivotal step in MaxAB-Wasoko’s strategy to dominate the informal retail sector across Africa as it seeks to expand its footprint across the continent.
Founded in 2019, Fatura has established itself as a prominent player in Egypt’s B2B e-commerce landscape, connecting wholesalers with retailers. The acquisition of Fatura will enable MaxAB-Wasoko to expand its reach and enhance its service offerings in Egypt, aligning with its vision to become the leading B2B e-commerce platform in Africa.
MaxAB merged with Wasoko in 2024 to form one of Africa’s most recognizable e-commerce marketplaces.
The acquisition of Futura is the first major deal after the merger and sees EFG Finance join the giant as a shareholder. Through this deal, EFG finance has acquired an undisclosed equity stake and secured a seat on the company’s board as it seeks to consolidate Africa’s B2B commerce and fintech landscape.
Mohamed Ben Halim, CEO of MaxAB, expressed enthusiasm about the acquisition, stating, “Integrating Fatura into our operations allows us to leverage their established network and expertise, accelerating our growth in the Egyptian market.”
Expanding Service Offerings
The integration of Fatura’s platform will enhance MaxAB-Wasoko’s ability to provide a comprehensive suite of services to retailers, including access to a broader range of products, improved logistics solutions, and embedded financing options. These enhancements are expected to drive increased adoption among retailers and contribute to the company’s growth trajectory in Egypt.
Daniel Yu, Co-CEO of MaxAB-Wasoko, highlighted the strategic benefits of the acquisition, stating, “By combining our resources with Fatura, we are poised to offer unparalleled value to retailers, strengthening our position as the go-to platform for B2B e-commerce in Africa.”
With the acquisition of Fatura, MaxAB-Wasoko is well-positioned to accelerate its expansion in Egypt and further solidify its leadership in the African B2B e-commerce market. The company plans to continue investing in technology and infrastructure to enhance its platform and deliver exceptional value to its users.
The acquisition of Fatura represents a significant milestone in MaxAB-Wasoko’s journey and sets the stage for continued growth and innovation in the African e-commerce sector.
This integration is projected to boost MaxAB-Wasoko’s Egypt revenue by 25% within a year, with plans to replicate the model in Kenya, Morocco, and Rwanda.
The African consumer market is still heavily dependent on informal mom-and—pop stores unlike European markets where supermarkets reign. This dynamic gives platforms such as MaxAB-Wasoko an opportunity to bridge the gap.With integrated services that include inventory procurement, same-day delivery, and loans, the digitizing of this ecosystem places the company on a the right path to accelerated growth and profitability.