Waffarha secures seven-figure seed round from Saudi Venture Studio

Daba Finance/Waffarha secures seven-figure seed round

STARTUP VENTURE CAPITALApril 22, 2024 at 9:23 PM UTC

TLDR

Saudi Venture Studio invests in leading Egyptian group-buying website Waffarha, known for offering discounted coupons in various sectors.
Waffarha, with over 1,000 merchants and 3,000 stores, caters to more than 5 million customers without subscription fees, establishing itself as a significant lifestyle platform.
The partnership between VMS and Waffarha focuses on expanding into Saudi Arabia and boosting marketing to reach and engage Saudi consumers effectively.

Saudi Venture Studio (VMS) has invested in Waffarha, Egypt's leading group-buying website and mobile app. Launched in October 2012, Waffarha provides discounted coupons across various sectors including F&B, entertainment, health & beauty, and hotels & resorts, among others.

With a network of over 1,000 merchants and 3,000 stores, serving more than 5 million customers, Waffarha has become a prominent lifestyle platform over the last 12 years, offering its services without any subscription fees.

Through this partnership, VMS aims to support Waffarha's expansion into Saudi Arabia while enhancing its marketing efforts to ensure widespread awareness and engagement among Saudi consumers.

Key Takeaways

Waffarha is one of an increasing number of technology startups across Africa that are reinventing the way traditional corporates across sectors offer discounts and rewards to end consumers. In Africa, startups that play in this space have a big market opportunity as the consumer goods sector is one of the largest and most resilient in the continent’s leading economies. There’s also a growing appetite for technology-enabled solutions among organizations.

Waffarha

Saudi Venture Studio

VMS

Venture Capital

E-commerce

Egypt

Startups