Digital trading platform Mataa secures funding to broaden its digital commerce reach in Libya and North Africa.
Libya's Mataa Secures Seed Investment for E-commerce Expansion
Mataa, a Libyan e-commerce platform, has recently closed its first Seed investment round, backed by a group of Libyan business angels. This funding will be utilised to strengthen Mataa's operational capacity, particularly in first-mile and last-mile logistics, expand its central warehouse, and onboard new suppliers and product categories.
The platform aims to scale its marketplace model, enabling Libyan merchants to reach over 6 million internet users nationwide and allowing Facebook-based sellers to integrate their product listings seamlessly. This strategy is expected to boost sales conversions and reduce reliance on paid advertising.
Mataa's strategic geographic location within a $830 billion North African market of 275 million people plays a significant role in its growth. By positioning itself as a key player in the region's digital commerce landscape, Mataa hopes to capitalise on this vast market potential.
Ibrahim Shuwehdi, the Founder and CEO of Mataa, emphasised investor confidence in the founding team as a key factor in attracting the Seed investment round. The investment marks a significant milestone in Mataa's journey to enhance digital commerce in Libya and the broader North African region.
To drive long-term growth, Mataa plans to recruit experienced regional talent in the e-commerce sector. Beyond internal expansion, the company views this seed round as a milestone for Libya’s startup ecosystem, hoping to attract further venture investment into Libyan startups and SMEs by demonstrating the viability and impact of local entrepreneurship.
[1] Mataa to expand central warehouse with new funds. (2022). Retrieved from https://www.mataa.com/news/mataa-to-expand-central-warehouse-with-new-funds
[2] Investor confidence drives Mataa's Seed investment round. (2022). Retrieved from https://www.mataa.com/news/investor-confidence-drives-mataas-seed-investment-round
[3] Mataa secures Seed investment to boost digital commerce in Libya. (2022). Retrieved from https://www.mataa.com/news/mataa-secures-seed-investment-to-boost-digital-commerce-in-libya
[1] To further scale its business, Mataa, the Libyan e-commerce platform, will be investing the seed funds in expanding its central warehouse and improving first-mile and last-mile logistics for a smoother operation.
[2] By successfully attracting seed investment, Mataa plans to capitalize on the growing technology market in Libya and the North African region, with a focus on hiring experienced regional talent to drive long-term growth and investing in key areas such as finance, technology, and business operations.
