Outliers Venture Capital leads $3.5mn seed round for Kenzz

Kenzz, an eCommerce platform, has raised USD 3.5mn for its seed round, led by Outliers Venture Capital, to grow staff numbers and its product range, invest in technology and support the launch of its new app. Other investors were HOF Capital, Foundation Ventures, Samurai Incubate and angel investors.

[the platform is socialising the purchasing experience, allowing people to unlock value by buying in groups. This leverages Egyptians’ social nature whilst providing them with affordable and reliable products.

Omar Barakat, Managing Partner at Foundation Ventures

Founded this year in Egypt by Ahmed Atef, Mahmoud AlSilk and Moataz Sami, the company caters to the mass market by sourcing products from manufacturers and importers, passing on discounts to the consumer who are then able to secure further discounts when they share/buy with friends and family.