Morocco’s e-commerce Justyol has raised $350,000 as a pre-seed investment following a $100,000 last August in the same fund-raising round from Earn Rocket Investment holding which seems to be a significant push to the company into further development and expansion.
Founded in 2022, Justyol is a unique cross-border marketplace/e-commerce startup that is addressing the Mena market with a unique, native and high-end web/application that bridges the gap between the Turkish fashion market and Mena markets.
Justyol will use the investment to develop its technical capabilities, enlarge its marketing activities and plan for the next expansion move in the region.
From his side, the Co-Founder and the CEO of Justyol Ahmed Badran said, we have a “strategic” plan it’s called (doing things), as we believe that It’s not about ideas. It’s about making ideas happen and an idea’s value lies in its use. Expressing his gratitude to the customers, suppliers and investors who believed in Justyol.
The demand for online shopping is high and it mainly benefits small structures that are already involved in online sales. Despite long delivery times, complaints and after-sales service problems, some international brands have seen their stocks plundered by certain sections of the population thanks to “revenge shopping”, this almost therapeutic tendency to over-consume after having been unable to shop normally due to restrictions linked to the coronavirus.
And now according to a research report by ecommercedb.com and itb.net the e-commerce market in Morocco has reached $1.4 billion, in West Africa $27 billion and in the Mena region up to $50 billion.
Badran said, “We are on the right way to building a great story as we believe that our reputation is more important than our paycheck as we are chasing vision not the money, and we know that the money will always end up following us.”
For more than a year, Justyol’s team of experts are working on development, markets researches and business planning to make it one of the fastest-growing e-commerce startups in the region.
Justyol succeeded in achieving exceptional success in less than 3 months of its launch in Morocco, with more than 100,000 downloads of the android app. and more than 100,000 unique visits to the website/month, with revenue growth exceeding 50% per month.
