Yiwu Commodity City led the investment, African B2B e-commerce platform Egatee won tens of millions of yuan A round investment

CTOnews.com, November 14 news, African B2B e-commerce platform Egatee recently announced that it has completed tens of millions of yuan A round financing, the current round of financing led by Yiwu Commodity City, angel round leader Banyan Capital A round to continue to raise bets.

It is reported that the penetration rate of e-commerce in the African market is currently only 1%. E-commerce in the 2B-end supply chain is developing rapidly, and the transaction volume of the Egatee platform has exceeded nearly 800 million yuan since its launch in January 2022.

Screenshot of ▲ Egatee website CTOnews.com learned that Egatee is the largest technology-driven B2B e-commerce company in Africa, headquartered in Hong Kong, China. At present, it has covered the markets of Uganda, Ivory Coast, Tanzania, Nigeria and India, and plans to cover Ghana, Ethiopia and other countries in the near future.

In addition, Egatee plans to launch operations in 15 sub-Saharan countries in 2023, digitally empower the local market, dig deep into the construction of local supply chain channels, and actively help global brands to settle in the African market, so that African people can enjoy a variety of "good goods" with high quality and low price.