MaxAB-Wasoko, one of Africa’s leading retail e-commerce and supply chain super apps, has announced the acquisition of Fatura, a prominent Egypt-based B2B e-commerce marketplace, from EFG Finance, a subsidiary of EFG Holding.

The acquisition marks a major milestone in MaxAB-Wasoko’s strategy to accelerate the B2B commerce and fintech landscape across the African continent. As part of the deal, EFG Finance will join MaxAB-Wasoko as a significant shareholder, acquiring an equity stake and securing a seat on the company’s board.

Speaking on the acquisition, Belal El-Megharbel, CEO of MaxAB-Wasoko said,

“The acquisition of Fatura is more than a growth play, it’s the realization of our ambition to become the go-to, one-stop-shop for retailers throughout Africa. By bringing together operational strength, product depth, and innovative fintech offerings, we’re setting a new standard for retail across the region.”

Also commenting, Aladdin ElAfifi, CEO of EFG Finance, said,

“We are thrilled to partner with MaxAB-Wasoko as they reshape the retail and supply chain sectors. Integrating Fatura will drive meaningful business growth, and our role as a significant shareholder and board member supported by EFG Holding reinforces our commitment to fostering innovation in the  fintech space.”

Fatura is a fintech-enabled B2B marketplace. Established in 2019, the company connects the suppliers (manufacturers, distributors, and wholesalers) with retailers across 23 governorates in Egypt, enabling price transparency, financial inclusion, and access to real-time and accurate data. In the FMCG sector alone, it has more than 1000 suppliers selling to more than 40,000 retailers a range of 10,000+ unique SKUs.

The acquisition of the fintech by MaxAB-Wasoko, will significantly expand its footprint in the region and bring together strengths in operations, product depth, and fintech innovation, setting a new standard for retail across Africa. Retailers will immediately benefit from a broader, more comprehensive product assortment, a crucial advantage in a fragmented supply chain where no single distributor can meet all retailer needs.

Fatura’s impressive reach, having onboarded over 626 wholesalers in 16 cities (including five new cities for MaxAB-Wasoko), ensures greater flexibility and convenience for small and medium-sized retailers.

MaxAB on the other hand, is the fastest-growing B2B business in the retail industry in Egypt. Established in 2018 as an E-commerce platform allowing local underserved merchants and mom-and-pop shops in Egypt and Morocco to grow, increase their revenues, and enhance their quality of life.

In August 2024, MaxAB and Wasoko, two leading B2B e-commerce platforms, completed their merger, creating the most significant tech merger in African history. A key focus for the merged company was expanding its financial services offerings. The newly formed entity now serves over 450,000 merchants across Egypt, Morocco, Kenya, Tanzania, and Rwanda, connecting them to 65 million consumers.

By acquiring Fatura, MaxAB-Wasoko is moving to consolidate fragmented players in the B2B e-commerce space. The acquisition of Fatura by MaxAB-Wasoko carries several key implications for the African e-commerce and retail landscape.

Retailers now have access to a broader, more diverse product assortment from combined supplier networks. This aligns with the company’s vision to drive financial inclusion and offer value-added services like credit, analytics, and inventory tools.

Also, the acquisition accelerates MaxAB-Wasoko’s ambition to become the “go-to one-stop-shop” for retailers across Africa, offering goods, financing, tech tools, and reliable delivery under one platform.

In essence, this acquisition is a growth, consolidation, and market-leadership play, positioning MaxAB-Wasoko as a dominant force in Africa’s evolving retail and digital commerce ecosystem.