Africa-wide e-commerce expands as MaxAB-Wasoko acquires Fatura to speed up its digital commerce operations
MaxAB-Wasoko, an Africa-focused retail e-commerce and supply chain platform, has made a strategic move by acquiring Fatura, an Egypt-based B2B e-marketplace. This acquisition marks a significant pivot for MaxAB-Wasoko, moving towards embedded financial services across Africa.
Belal El-Megharbel, CEO of MaxAB-Wasoko, expressed that this acquisition is a realization of their ambition to become the go-to, one-stop-shop for retailers in Africa. Since merging in 2024, MaxAB and Wasoko have been on a mission to unify fragmented supply chains and retail ecosystems.
Fatura, an asset-light, scalable marketplace, operates in Egypt. Its marketplace complements MaxAB-Wasoko’s full-stack supply chain, from procurement to last-mile delivery. The integration of Fatura aims to drive topline growth and operational efficiencies over the next 12-18 months.
Aladdin ElAfifi, CEO of EFG Finance, stated that the integration will fuel growth and demonstrates their fintech commitment. EFG Finance, a subsidiary of EFG Holding, is now a significant shareholder in MaxAB-Wasoko as a result of the acquisition, and they will gain a board seat as part of the agreement.
The fintech arm of MaxAB-Wasoko has already seen significant growth in Egypt, with its business doubling, and expansion into Morocco. Fatura has onboarded 626+ wholesalers across 16 cities, including 5 new cities for MaxAB-Wasoko. This acquisition will enable retailers to have broader access to credit and embedded financial services through MaxAB-Wasoko’s fintech arm.
Fatura's marketplace will be integrated and rebranded under MaxAB-Wasoko. The acquisition is expected to contribute 25% of MaxAB's Egypt revenue by the end of 2025. This latest move signals MaxAB-Wasoko’s intent to dominate Africa’s B2B e-commerce space, focusing on fintech-driven profitability over aggressive expansion of e-commerce platforms.
This transaction is part of a record wave of African tech M&A in H1 2025, with fintech driving consolidation and cross-border scaling. North Africa—including Egypt—is a hotspot for such deals, and MaxAB-Wasoko’s expansion through acquisitions and banking licenses signals stronger fintech infrastructure and financial inclusion for informal B2B merchants. However, investor sentiment remains cautious due to pressures on revenue multiples and the inherent challenges in achieving profitability across all markets.
In summary, over the next 12-18 months, MaxAB-Wasoko’s acquisition of Fatura will likely accelerate fintech-led growth in Africa’s B2B commerce by embedding digital credit within traditional wholesaler networks, enabling better access to working capital for small merchants and shifting the economic model toward more profitable, technology-enabled financial services. This shift could catalyze broader market consolidation and innovation in embedded finance, although it will require careful operational execution amid investor caution. MaxAB-Wasoko aims to build a tech-powered future for retail across the continent.
Technology will play a significant role in accelerating fintech-led growth in Africa's B2B commerce over the next 12-18 months, as MaxAB-Wasoko embeds digital credit within traditional wholesaler networks, following their acquisition of Fatura. This shift towards more profitable, technology-enabled financial services could catalyze broader market consolidation and innovation in embedded finance.
