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HomeFunding Egypt-Based Waffarha Raises Seven-figure Seed Round Funding

[Funding Alert] Egypt-Based Waffarha Raises Seven-figure Seed Round Funding

Egypt based Saudi Venture Studio has declared its investment in Waffarha.com, the leading group-buying portal and mobile application in Egypt. Waffarha, is well-known for its dedication to providing outstanding discounts to online shoppers with daily specials that offer reductions of up to 90%.

Egypt based Saudi Venture Studio has declared its investment in Waffarha.com, the leading group-buying portal and mobile application in Egypt. Waffarha, is well-known for its dedication to providing outstanding discounts to online shoppers with daily specials that offer reductions of up to 90%.

Apart from aiding Waffarha.com’s entry into Saudi Arabia, the collaboration with VMS will allow the platform to improve its promotional activities, guaranteeing extensive recognition and interaction among Saudi customers. By means of focused marketing efforts and calculated moves, Waffarha.com hopes to become the preferred choice for astute consumers looking for the best offers and most exceptional discounts.

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Tarek Magdy and Noha Hamdy formed it in the A.R.E. established in October 2012 as the leading online lifestyle marketplace providing consumers with coupons at a discount for a variety of industries, such as food and beverage, entertainment, health and beauty, lodging & resorts, and more. With over 3,000 storefronts and over 1,000 merchants, the platform provides more than 5 million clients with all of their daily needs and wants, all without any middlemen.

Fawry for Banking Technology and Electronic Payments showed interest in Waffarha’s operations in 2018 and purchased a 30% stake in the business.

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By offering additional services like bill payment, which allows customers to pay all of their bills online and buy vouchers on a single platform, Waffarha hopes to broaden its customer base. Using +10 payment options, such as mobile wallets, installation, and card acceptance.

Furthermore, it offers key partners and vendors in a variety of industries, including banking, transportation, telecom, FMCG, and more, a B2B line that delivers clever white-label loyalty solutions. Through both immediate reward promotions and long-term point accumulation and redemption, this service guarantees client happiness and retention.

About Waffarha

Waffarha.com, Egypt’s top group-buying website and mobile app, was launched in October 2012. Since the word “Waffarha” means “Save it” in the local language, it follows that their goal is to help their online clients save a lot of money by providing them with their enticing Daily Deals, which feature steep discounts ranging from 50% to 90%.

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