In its first post-merger move, MaxAB-Wasoko, the B2B e-commerce giant formed from the 2024 merger between Kenya’s Wasoko and Egypt’s MaxAB, has acquired Fatura, an Egypt-based B2B e-marketplace, from EFG Finance. The deal is a fresh push to consolidate retail and supply chain technology across African markets.
As part of the acquisition, EFG Finance has become a key shareholder in MaxAB-Wasoko and sits on the company’s board. The value of the transaction was not disclosed.
The acquisition deepens MaxAB-Wasoko’s footprint in Egypt, where Fatura has built an asset-light digital marketplace connecting over 626 wholesalers to retailers in 16 cities, according to a statement seen by TechCabal. Five of those cities will be added to MaxAB-Wasoko’s network. With Fatura fully integrated, the company claims its retail platform offers a broader product assortment and regional coverage.
“The acquisition of Fatura is more than a growth play,” said Belal El-Megharbel, CEO of MaxAB-Wasoko. “It’s the realisation of our ambition to become the go-to, one-stop shop for retailers throughout Africa.”
The deal marks the first strategic move by MaxAB-Wasoko since both companies completed an all-stock merger in August 2024, which created one of Africa’s largest B2B commerce platforms, jointly led by MaxAB’s Belal El-Megharbel and Wasoko’s Daniel Yu. At the time, the companies promised to use their combined strengths to build a regional player to tackle fragmented supply chains and widen access to financial tools for small retailers.
Unlike MaxAB-Wasoko’s supply chain-heavy model, which controls distribution end-to-end, Fatura runs an asset-light marketplace connecting suppliers to retailers. It also has a history of fintech operations under Tanmeyah, an EFG Holding subsidiary. MaxAB-Wasoko plans to layer its embedded financial services into the Fatura network, including credit access for stock purchases.
Fatura is projected to contribute around 25% of MaxAB-Wasoko’s Egypt revenue by the end of 2025.
The combined entity, which is valued at over $500 million, now operates in Egypt, Kenya, Tanzania, Rwanda, and Morocco, supports a network of 450,000 merchants and serves an estimated 65 million consumers. Wasoko exited Zambia, Uganda, and Zanzibar shortly before the merger.
While the new company still hasn’t announced a formal name, it appears to have settled on Wasoko-MaxAB. The combined entity told the TechCabal in August 2024 that it planned to complete the integration of the two platforms and staff within 60 days of the deal.
