Tombeely tar­gets EGP 5-10m in­vest­ments in 2019: chair­per­son

Com­pany pro­vides spare auto parts via on­line plat­form

The Daily News Egypt - - NEWS - By Mo­hamed El-Rouby

Tombeely for spare parts, a plat­form for sell­ing spare parts on­line, aims to increase its in­vest­ments to be­tween EGP 5m and EGP 10m by 2019.

Osama Maghawry, chair­per­son and founder of Tombeely, said that the idea of estab­lish­ing the com­pany oc­curred to him when he had a car ac­ci­dent and had to find spare parts for his car. It took him about two months to find what he needed.

He told Daily News Egypt that he then had the idea to es­tab­lish an in­ter­net plat­form to pro­vide the spare parts that can­not be found on the market.

A trial ver­sion Tombeely was launched in Oc­to­ber 2017 and the of­fi­cial launch was early this year.The value of sales in Jan­uary reached EGP 10,000, then in­creased in March to EGP 70,000.

Maghawry added thatTombee­ly has been co­op­er­at­ing with Flat6Labs since Fe­bru­ary. It has pro­vided Tombeely with the needed sum to launch, EGP 500,000. It has also pro­vided it with guid­ance and di­rec­tion.

Flat6Lab’s guid­ance in­cludes help­ing Tombeely in the field of lo­gis­ti­cal ser­vices, tech­ni­cal is­sues, at­tract­ing a cus­tomer base,and en­abling it to present an at­trac­tive plat­form for in­vestors.

In ad­di­tion to its planned EGP 5-10m in­vest­ment increase for next year, Tombeely tar­gets reach­ing $1m within two years. Ad­di­tional fund­ing goes to sup­port­ing con­tent, mar­ket­ing de­part­ments, tech­ni­cal sup­port, and cus­tomer ser­vice.

Maghawry pointed out that the web­site be­gan with only Kia and Hyundai,then added other Korean and Ja­pa­nese brands in the market, of­fer­ing 4,500 prod­ucts, likely to reach 20,000 within two months.

“Tombeely is cur­rently work­ing to add new mod­els and brands, but the size of the large market de­lays this,” Maghawry added.

The spe­cial or­ders depart­ment at the com­pany helps cus­tomers pur­chase the prod­ucts that are un­avail­able on the web­site.All they have to do is reg­is­ter the spec­i­fi­ca­tions of the car, such as the brand, model, chas­sis num­ber, and the spec­i­fi­ca­tions of the part. Tombeely then pro­vides the re­quested part as soon as pos­si­ble, be­cause this is one of its main ad­van­tages.

Re­gard­ing co­op­er­a­tion with au­tho­rised agents and pro­vid­ing au­tho­rised parts from them through Tombeely, Maghawry ex­pressed his com­plete readi­ness to do so. How­ever, he ex­pressed reser­va­tions re­gard­ing agents not ac­cept­ing such a part­ner­ship.

He said that it is easy for sup­pli­ers to reg­is­ter on the plat­form, though he said they are not ap­proved ex­cept af­ter guar­an­tee­ing their cred­i­bil­ity, in­tegrity, and abil­ity to en­rich the web­site and serve its cus­tomers.

Maghawry worked as head of trade and main strat­egy at Mubasher In­vest for port­fo­lios and fund man­age­ment be­fore he es­tab­lished Tombeely.

He was also mem­ber of Mubasher’s in­vest­ment com­mit­tee. He then helped the com­pany’s as­sets un­der man­age­ment grow from EGP 2m to EGP 500m in a three-year pe­riod.

He also has over 12 years of ex­pe­ri­ence in the field of trade and in­vest­ment. He has a bach­e­lor’s of com­merce de­gree and is a Char­tered Market Tech­ni­cian, con­sid­ered the gold stan­dard in the field of fi­nan­cial anal­y­sis, which he ob­tained from the US-based Market Tech­ni­cians As­so­ci­a­tion.

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