PROJECT

Projects

Summary of Investment Information

Project Number

45171

Company Name

TAN HOLDING SAL

Date SPI Disclosed

Aug 23, 2021

Country

Lebanon

Region

Middle East

Projected Board Date

Sep 24, 2021

Environmental Category

B - Limited

Status

Active

Last Updated Date

Nov 24, 2022

Department

Equity Portfolio Management

Industry

Tourism, Retail and Property

Previous Events

Approved : Mar 1, 2022
Signed : Jul 22, 2022
Invested : Nov 22, 2022

Sector

Retail (Including Supermarkets, Grocery Stores, etc.)

Project Description

 

Founded in 2017, Toters (“TAN (Holding), Sal” or the “Company”) is an on-demand delivery platform operating in Lebanon and Iraq. The Group offers grocery, food, and convenience product delivery from a wide variety of more than 2,000 partner restaurants, coffee shops, bakeries, grocery stores, electronic stores, para-pharmacies, and flower shops, etc. via a Toters’ network consisting of thousands of couriers.

 

IFC is considering an equity investment of US$5 million in Toters. The funding will primarily be used to expand the Group’s operations in Iraq.   

                                                  

Associated Advisory Engagement

 

There are no Advisory Engagements associated with this investment

                                                  

Sponsor / Cost / Location

Development Impact

E&S Category Rationale / Risks and Mitigation