Egypt-based SaaS ecommerce startup, Awfar, which offers fully integrated technology solutions for retail businesses, is set for a massive expansion drive into Saudi Arabia after raising a six-figure investment funding from Saudi-based venture studio, Value Maker Studio (VMS).
The investment, according to founder and CEO of Awfar, Abdelrahman Galal, will provide the struggling startup a seamless entry into the Saudi Arabian market as part of its effort to push its way into the MENA space.
Awfar, which was founded in 2020 by Galal, provides comprehensive technology solutions for retail businesses which include cloud-based services, point of sale (POS) systems, commercial and operational reporting, and delivery management solutions.
The excited Galal who spoke on the partnership with VMS, said it marked a significant milestone in the expansion journey of the startup.
“Our collaboration with Value Maker Studio marks a significant milestone in our journey. VMS’s Bridge Program has been instrumental in helping us overcome the challenge of entering the Saudi market. In less than a month, we were able to secure contracts and establish partnerships with major chains in Saudi Arabia,” he said.
The CEO noted that over the years, Awfar had significantly contributed to the growth and success of businesses across Egypt and the MENA region, earning a reputation as a one-stop shop for retailers seeking to enhance their customer engagement strategies and sales operations.
“Awfar provides support to all the popular online grocery, pharmacies, and restaurants and all retail delivery models with its customizable e-commerce solutions,” he said
“Our recent synergy with VMS is poised to disrupt the Saudi Arabian startup landscape, empowering entrepreneurs and providing them with the resources, mentorship, and guidance needed to transform ideas into successful ventures.
“Value Maker Studio is a pioneer in value-focused innovation. It aims to empower exceptional entrepreneurs, drive technological innovation, foster job creation, and secure a strategic foothold within the Saudi market.”