How Egypt’s FreshSource is simplifying the B2B agri-supply chain, and eyeing MENA expansion FreshSource is an Egyptian startup that provides a B2B agri-supply chains platform. This connects food producers with businesses and exporters, increasing their income.
Inaugurated in January 2019 by Farah Emara and Omar Emara siblings FreshSourceB2B platform for agri-supply chains that uses technology to transform the way fresh goods are sourced and moved. The startup partners up with various producers like farms, as well as supplies businesses such restaurant, hotel, and online retailers of fresh fruits and veggies. FreshSource guarantees fair and transparent pricing, micro-financing, technical development, and a cold chain that optimizes distribution, storage, and resources. This results in a food loss rate of only two percent, compared to the national average which is 45 percent. “The value proposition that FreshSource brings is our ability to use our data to have optimal pricing for both our producers and our customers, leverage our technology to offer a streamlined process from end-to-end, and build on 30 years of know-how from our family business, which runs one of the largest cold-chain facilities in Egypt. These three assets solidify FreshSource as a leading and reliable fresh food supplier,” Farah Emara told Disrupt Africa. The startup is expanding rapidly and serves major customers in 11 Egyptian cities. It is expected that the startup’s expansion will accelerate. A seed investment of seven figures in the US was securedWamda and 4DX ventures earlier this month. FreshSource will use the funds to expand its geographic reach in Egypt, improve its technology platform, and grow its staff. It is also looking to expand within the MENA region. “We have seen a substantial need in the market and this is reflected in our growth of double digits monthly,” Farah said. “There have been many challenges as we introduce technology to an extremely traditional industry and this took time in the beginning, however, as we prove the business model, this gets easier.” She said as a woman in this space she had also faced “incredible resistance” from many within the male-dominated agriculture industry. “At the start, these negative comments used to really bring me down, however, as FreshSource develops and with the support of my partner and brother, Omar, I became a lot more confident,” she said. Newfound confidence plus funding in the bank might signal a bright future for this first mover in Egypt’s agri-tech ecosystem.