IFC proposes investment in Egyptian e-commerce platform

The IFC is considering an equity investment of $5 million in Brimore, an assisted e-commerce platform in Egypt targeting mass market consumers.

Founded in 2017 by Mohamed Abdulaziz, who currently serves as the CEO, and Ahmed Sheikha, who currently serves as the chief business officer, Brimore utilises a social commerce model to reach these underserved segments.

Existing shareholders in the company include Algebra Ventures (an IFC investee fund) and Endure Capital.

Brimore is headquartered in Netherlands and operates in Egypt.

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