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L-R: Mohamed Maged (CEO), Khaled Kandil (CTO), Mohamed Altaf (COO) and Moaz El Megharbel (VP Strategy)
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Egyptian on-line auto theatrical role marketplaceMtorhas parent $ 2.8 million in pre - seed investing led by Egypt - focused speculation capital firm Algebra Ventures . Other investors that participated in the troll admit Dutch Founders Fund ( DFF ) , Aditum Ventures , LoftyInc Capital and other local and global angel investors , the startup said in a affirmation .
Mtor ’s founder and CEO , Mohamed Maged , established the startup in April 2022 . His inspiration for the venture emerged from years spent in Germany , where he realize valuable experience in the automotive sector . Upon return to Egypt in 2020 , Maged joined the B2B due east - commerce marketplace MaxAB , hold back two discrete head of expansion roles before departing to launch Mtor .
In an audience with TechCrunch , Maged draw how he recognized a significant challenge in addressing inefficiencies and fragmentation within the auto part provision range of mountains and the self-propelling aftermarket , specifically rivet on local workshops and machine mechanic spaces . “ I got the idea for Mtor before make out to Egypt , ” he say . “ I wreak in automotive a spot and saw the inefficiency of global suppliers knowing nothing about local workshops or local servicing providers . Egypt itself does n’t manufacture that many spare part , so there is a magnanimous info and technical gap not only in price of distribution but in full term of new products . ”
Initially , Mtor , whose leadership squad let in Maged alongside CTO Khaled Kandil , COO Mohamed Altaf and VP of Strategy Moaz El Megharbel , focused on add spare parting to local workshop and make do logistics . Over time , the startup expanded operations , organise partnership with importers to facilitate statistical distribution in an Egyptian market home to thousands of local service providers and millions of cars demand upkeep and aftersales part .
Egypt ’s automotive after - sales mart , among the great in Africa and the MENA region , transcend $ 5 billion in value . With an aging fleet of 8 million fomite , car owner spend an norm of $ 600 + annually across 35,000 shop and service of process providers , emphasizing the untapped potential within Egypt ’s automotive after - sale market .
At its core , Mtor addresses the infliction point of these local workshops , resolve issues such as inaccurate fitment data point , logistics and deliverance challenges , parts accessibility and Leontyne Price transparency . The startup also aims to bridge the gap for railway car possessor face a quandary between prescribed dealerships , where price are two to three times higher , and local workshops volunteer more affordable alternative . Despite the potential via media on quality at local workshops , specially during global economic challenges , Mtor act as an go-between , leverage a tech platform to connect these shop directly with importers .
Traditionally , importer have bulk order to tumid wholesaler , who , in turn , distribute to local mechanics through several layers of suppliers . Mtor simplifies this process , bid more efficient pricing than the traditional two - layer provision string .
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“ A local grease monkey would get the parts from the current supply chain for 10,000 Egyptian pounds but can get it from Mtor for 8,000 - 8,500 Egyptian pounds because we operate an efficient sort of supplying range of mountains from importers to Mtor ’s two warehouses in Cairo and Giza and then to these mechanic workshops , ” said Maged . “ We ’re something in between that will lift up those workshops using a tech platform that plug in them directly with the importers , and at the same clip , giving them good quality and trustable parts that would then give more or less the needed rest between both world including providing logistics and delivery of the ware on need . ”
The two - year - old online car role marketplace operates on a gross profit model primarily tied to the parts themselves . The job runs on interchangeable pricing and descend its take charge per unit or margin from this pricing , which include costless saving .
Over the past yr and a one-half , Mtor has served over 2,500 workshop , carry out more than 70,000 orders . On the supply side , it has formed partnerships with over 60 importers .
Beyond being a tech - enable statistical distribution arm , Mtor establishes a robust feedback iteration ask data , parts entropy and pricing item . Its Mechanic app , target at these local workshops , facilitates ordering and provides penetration into compatible aftersales parts . The app also manages the redirection of part , whether to Mtor ’s or the importers ’ inventory , enhancing efficiency and collaboration within the self-propelling aftermarket .
Mtor ’s focus on B2B customers is a departure from platform that function as marketplaces connecting railroad car owner with service providers . A renowned example is YC - backedOdiggo , an Egyptian inauguration that ab initio operated in this family before pivoting to Sully.ai , an AI team specialise in automating healthcare tasks . likewise , the Nigerian auto deals marketplace Mecho Autotech initially mesh as a business concern - to - consumer marketplacebefore recently branching into the wholesale distributionof aftersales percentage .
Mecho Autotech raises $ 2.4 M , ventures into wholesale supererogatory parts dispersion
While Odiggo ’s fresh business focus and Mecho ’s different market place positioning make them non - direct contender , Mtor , consort to Maged , does n’t see other B2C players as competitors , recognize that dish out mechanism involves more frequent orders and low comeback rates compared to verbatim customers in the spare parts line of work .
“ They merely complement our mannikin because the service supplier are the mechanics . The main aim of Mtor is to endue independent shop to offer car owners first-class quality service at low-priced price . The right way of life to do this is to authorise those mechanics , which will filter down to a better experience for the car possessor not only in lead sentence but also in the quality of the division and even the Leontyne Price he devote , ” added the chief operating officer .
In summation to of late hold hires in leadership and operational roles , Maged says the startup has condense on developing products that attract more grease monkey monthly . Its future strategy will take doubling down on this approach off the back of the fresh investiture it has received . He point out that the startup plans to fortify partnerships with significant importers and parts suppliers .
“ We are delighted to partner with Mtor ’s founders and squad , who have built an innovative business that solves a important pain for mechanics , motorcar component supplier and vehicle proprietor , ” say Karim Hussein , managing partner at Algebra Ventures on the investment . “ Mtor ’s unique optical and articulation interface match with a advanced fitment and portion matching engine eliminates the hours drop daily by auto-mechanic hunting for the right part at the right monetary value . We seem ahead to supporting Mtor on elaboration in Egypt and beyond . ”
