Egyptian group-buying platform Waffarha has secured a significant seed funding round, allocating the funds to enhance its technology infrastructure, attract talent, and expand operations beyond Saudi Arabia.
Founded in 2012 by Tarek Magdy and Noha Hamdy, Waffarha offers daily discounts of up to 90% through its website and mobile app. A strategic partnership with VMS aims to streamline expansion efforts in Saudi Arabia and diversify offerings with services like bill payment. VMS, a venture studio, focuses on job creation, tech advancement, and entrepreneur support, investing in enterprises like Akhdar and Awfar.
The initiative “Bridge Programme” aids Egyptian tech entrepreneurs in expanding into Saudi Arabia. With 3,000 stores, 1,000 merchants, and five million customers, Waffarha is positioned for further growth with support from Saudi Arabian Value Makers Studio (VMS).
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