- EFG Finance announced the acquisition of the Fatura platform by MaxAB-Wasoko, along with securing a significant stake and a board seat in MaxAB-Wasoko.
- Fatura has been fully integrated into the MaxAB-Wasoko platform to expand the distribution network, which includes over 626 wholesalers across 16 Egyptian cities.
- Fatura is expected to contribute around 25% of MaxAB’s revenue in Egypt by the end of the year, with projected exponential growth in African markets.
EFG Finance, a subsidiary of EFG Holding, announced the completion of an acquisition agreement under which MaxAB-Wasoko has acquired Fatura, a B2B e-commerce platform in Egypt. As part of the deal, EFG Finance has secured a significant stake in MaxAB-Wasoko and a seat on its board of directors.
The acquisition aligns with MaxAB’s strategic expansion across the African continent in both e-commerce and digital financial services, following its merger with Wasoko, which extended its footprint into Kenya, Rwanda, and Tanzania.
Fatura has been fully integrated into the MaxAB-Wasoko platform, granting retailers immediate access to a broader network of products through over 626 wholesalers across 16 cities, including 5 new cities previously not covered by the platform.
The deal will also enable expanded credit facilities for retailers through MaxAB’s financial solutions, empowering them with working capital to grow their inventory and scale their businesses sustainably.
Fatura, founded in 2019, was previously acquired by EFG Holding’s subsidiary Tanmeyah in 2022. It operates a digital, asset-light model that seamlessly integrates with MaxAB’s end-to-end supply chain — from sourcing to delivery — expanding supplier access and improving efficiency and choice.
The integration is expected to drive significant revenue growth and operational efficiency over the next 12 to 18 months. Fatura is projected to contribute approximately 25% of MaxAB’s revenue in Egypt by year-end, with potential for exponential growth as the model is replicated across other African markets.
Since the merger with Wasoko, MaxAB-Wasoko has achieved notable growth in both fintech and e-commerce. The company expanded into Morocco and now provides financing solutions that support more than 9% of total e-commerce sales, reflecting increasing demand for digital financial services among retailers.
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