MaxAB-Wasoko has acquired Fatura, an Egypt-based B2B e-marketplace, from EFG Finance, a subsidiary of EFG Holding. 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.
This follows last year’s merger between MaxAB and Wasoko, which expanded their footprint into Kenya, Rwanda, Tanzania, Egypt, and Morocco.
“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,” said Belal El-Megharbel, CEO of MaxAB-Wasoko. “By bringing together operational strength, product depth, and innovative fintech offerings, we’re setting a new standard for retail across the region.”
L-R_ Aladdin ElAfifi, CEO of EFG Finance, an EFG Holding company and Belal Megharbel CEO of MaxAB-Wasoko
Fatura is now integrated into the platform and unified under the MaxAB-Wasoko brand. Retailers will benefit from a broader product assortment and Fatura’s reach, having onboarded over 626 wholesalers in 16 cities (including five new cities for MaxAB-Wasoko).
Aladdin ElAfifi, CEO of EFG Finance, stated: “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.”
Additionally, the company’s embedded financial services will unlock expanded credit access for purchases made by its expanding merchant network.
Fatura, founded in 2019 and acquired by Tanmeyah (an EFG Holding subsidiary) in 2022. It brings a scalable, asset-light marketplace model that complements MaxAB-Wasoko’s robust end-to-end supply chain from procurement to last-mile delivery.
The integration is expected to drive efficiency over the next 12–18 months. In the near term, the Fatura marketplace is projected to contribute approximately 25% of MaxAB’s Egypt revenue by year-end, with strong momentum and exponential growth anticipated as the model is rolled out across the company’s other African markets.
Since the merger of MaxAB and Wasoko, the combined entity has achieved remarkable growth across its fintech and e-commerce verticals. The company’s fintech business has doubled in Egypt, expanded to Morocco, and now provides credit solutions that finance over 9% of e-commerce sales.