Egyptian online car parts marketplace Mtor has successfully raised $2.8 million in pre-seed funding to advance its mission of digitizing local car workshops and expanding its product suite. Established in 2022 by Mohamed Maged, Moaz El-Megharbel, Mohamed Altaf, and Khaled Kandil, Mtor serves as a unified platform connecting local car workshops with on-demand automotive spare parts at competitive prices.
Since its inception, Mtor has fulfilled over 70,000 orders and forged partnerships with more than 2,500 car workshops in the greater Cairo area. The company is now poised for further growth following the pre-seed funding round led by Algebra Ventures, with participation from the Dutch Founders Fund (DFF), Aditum Ventures, LoftyInc Capital Management, and various local and global angel investors.
Mtor CEO Mohamed Maged commented, “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.”
Addressing the inefficiencies of the local automotive aftermarket, characterized by a fragmented and scattered supply chain, Mtor aims to tackle challenges such as limited product availability, inaccurate fitment data, and a lack of price transparency. Leveraging its controlled, tech-enabled marketplace and proprietary Mtor Mechanic app, the company provides a solution where pricing, availability, and fitment data are readily accessible.
We look forward to supporting Mtor’s expansion in Egypt and beyond.
Karim Hussein, Algebra Ventures Managing Partners
The newly acquired funds will be utilized to expand Mtor’s product suite, further digitize local car workshops, and address major inefficiencies in the automotive spare parts supply chain in Egypt and the broader region. Karim Hussein, Managing Partner at Algebra Ventures, expressed enthusiasm about the partnership, stating, “We look forward to supporting Mtor’s expansion in Egypt and beyond.”
