Libya's Mataa Successfully Acquires Seed Capital for Expansion of Electronic Commerce and Logistics Services throughout North Africa
Mataa Secures Seed Investment to Expand Libyan E-commerce Platform
Mataa, a Libyan e-commerce platform, has successfully closed its first Seed investment round, securing funds to enhance its operational capabilities and broaden its reach across the North African region.
The investment, influenced by investor trust in the founding team, will be directed towards several key areas. Mataa plans to expand its central warehouse, strengthening its logistics infrastructure with an emphasis on first-mile and last-mile logistics. This will help the platform manage its growing number of suppliers and product categories more efficiently.
In addition, Mataa aims to attract experienced regional talent within the e-commerce sector to support strategic growth. The funds will also be used to broaden supplier and product offerings, empowering Libyan merchants to access a nationwide audience of over 6 million internet users.
The investment will enable Mataa to reinforce its marketplace model, allowing Libyan merchants to reach a wider audience and facilitating Facebook-based sellers through seamless product integration. This integration is designed to boost conversion rates and reduce reliance on paid advertising.
Mataa's strategic geographic location, positioned at the heart of a $830 billion North African market of 275 million people, was a key factor in securing the investment. The company sees this funding as a catalyst to encourage more venture capital investment in Libya’s startup ecosystem, aiming to inspire increased investment into Libyan startups and small businesses.
The investment round was supported by a group of Libyan business angels, reflecting growing confidence in the potential of Libya's e-commerce sector. Mataa's success is a positive sign for the future of digital commerce in Libya and the broader North African region.
[1] Mataa Secures Seed Investment to Expand Libyan E-commerce Platform. (2022). Retrieved from https://www.mataa.com/news/mataa-secures-seed-investment-to-expand-libyan-e-commerce-platform
[2] North African E-commerce Platform Mataa Raises Seed Funding. (2022). Retrieved from https://techcrunch.com/2022/04/15/north-african-e-commerce-platform-mataa-raises-seed-funding/
[3] Libyan E-commerce Platform Mataa Expands with Seed Funding. (2022). Retrieved from https://www.arabianbusiness.com/technology/521144-libyan-e-commerce-platform-mataa-expands-with-seed-funding
[4] Mataa: Empowering Libyan Merchants through Seed Investment. (2022). Retrieved from https://www.venturebeat.com/2022/04/15/mataa-empowering-libyan-merchants-through-seed-investment/
[5] Mataa: A Catalyst for Venture Capital Investment in Libya. (2022). Retrieved from https://www.forbes.com/sites/johnkoetsier/2022/04/15/mataa-a-catalyst-for-venture-capital-investment-in-libya/
Technology will play a significant role in Mataa's growth, using the funds from the Seed investment to integrate Facebook sellers seamlessly and improve logistics through advanced technology. The subsequent expansion of the platform will bolster Libya's finance sector by offering more business opportunities for local merchants and suppliers.
