Egyptian car parts marketplace Mtor raises $2.8m pre-seed funding

Egyptian online car parts marketplace Mtor has raised US$2.8 million in pre-seed funding to help it expand its product suite to digitise local car workshops.

Founded in 2022 by Mohamed Maged, Moaz El-Megharbel, Mohamed Altaf and Khaled Kandil, Mtor provides a unified platform for local car workshops and on-demand automotive spare parts at reasonable prices.

Since its inception, the platform has delivered over 70,000 orders, partnering with over 2,500 car workshops in the greater Cairo area. It is now set to expand its offering after securing US$2.8 million in a pre-seed round led by Algebra Ventures, with participation from the Dutch Founders Fund (DFF), Aditum Ventures, LoftyInc Capital Management, and a number of local and global angel investors.

“It can be a car owner’s nightmare to get their car serviced. Mtor was founded to fundamentally transform this reality and make the process easier and more efficient, empowering a layer of local car workshops that are well rounded with quality parts, a suitable price position, and a good customer experience,” said Mtor CEO Mohamed Maged. “We aim to become the most trusted partner for our mechanics by empowering them to better cater to the car owner’s needs in terms of quality parts and fast service.”

The local automotive aftermarket is inefficient with a fragmented and scattered supply chain. Workshops and mechanics face many challenges, including limited product availability, inaccurate fitment data, and a lack of price transparency. These issues inevitably trickle down to car owners, who are also faced with limited-service quality guarantees and a complex, time-consuming spare parts procurement process. Mtor aims to overhaul this system through its controlled, tech-enabled marketplace, backed by its proprietary Mtor Mechanic app, where pricing, availability, and fitment data are reliably just a click away.

The funds raised will be used to further grow Mtor’s product suite, digitise local car workshops, and eliminate major inefficiencies in the automotive spare parts supply chain in Egypt and the region. 

“We are delighted to partner with Mtor’s founders and team, who have built an innovative business that solves a significant pain for mechanics, auto parts suppliers, and vehicle owners. Mtor’s unique visual and voice interface, coupled with a sophisticated fitment and parts matching engine, eliminates the hours spent daily by mechanics hunting for the right part at the right price. We look forward to supporting Mtor’s expansion in Egypt and beyond,” said Karim Hussein, managing partner at Algebra Ventures.

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