GoodsMart, the e-commerce startup that prides itself as a pioneer of unattended delivery in the Middle East and North Africa, has announced that it secured additional funding from Egypt’s leading VC firm Algebra Ventures.
The funding comes just as the Cairo-based startup was prepping to kick off its forthcoming Series B round.
For those of you not familiar with GoodsMart, it is a household shopping app that goes beyond just delivering your daily shopping to your doorstep. It’s the first-of-its-kind unattended delivery service that requires absolutely no human interaction whatsoever. Once you register on the platform using their mobile app, the company sends its representatives to install the GoodsMart box right at your doorstep.
This box is secure and can be opened by only delivery executives and of course, the owner, which is you. Among other perks, this added feature makes sure that you no longer have to put off all your other work to wait for the delivery guy to show up. You can leave for work and rest assured that your groceries and fresh veggies are waiting there for you in your GoodsMart box.
Be it meat and poultry, fresh bakeries, pet food, stationary, or pharmacy — the app takes care of all your everyday needs.
This latest funding establishes that GoodsMart has built quite a reputation with Algebra Ventures, which also participated in the startup’s Series A round in April 2017 with an investment sized at $750,000.
Speaking of his firm’s decision to back the e-commerce startup, Tarek Assaad, Algebra Ventures’ Managing Partner, said: “GoodsMart is a uniquely innovative company with tremendous upside potential. Their customer-centric approach continues to deliver exceptional results.”
Worth noting here is that GoodsMart claims to have expanded its business by 300% over the past six months.