Egyptian Auto-Parts Marketplace Mtor Raises USD 2.8 M Pre-Seed Funding

Egypt’s online auto-parts marketplace Mtor has raised a USD 2.8 M pre-seed funding round led by Algebra Ventures, with participation from Dutch Founders Fund, Aditum Ventures, LoftyInc Capital, and a number of prominent local and global angel investors.

Mtor is an online marketplace revolutionizing the automotive aftermarket industry. Mtor provides sophisticated tech solutions to streamline a currently fragmented supply chain, creating a unified platform for local car workshops to access a broad range of automotive spare parts on-demand at competitive prices. Catering to the needs of mechanics and car owners, Mtor strives to provide faster delivery and accurate data that simplifies and accelerates the mechanic’s workflow.