Egyptian Startup, Shiphaly, Raises Six-figure Funding For Operational Expansion
Shiphaly, a Cairo-based marketplace that connects shoppers and travelers, has announced that it raised an undisclosed six-figure sum from Saudi Arabian and Egyptian angel investors.
The round was led by Faisal Abdulsalam, the creator of Purity and an active investor in Saudi Arabia and Egypt.
“We are very proud of the traction that Shiphaly has had over the past months. We are also very happy and privileged to have a group of top-notch angel investors backing us in our journey to transform the way people shop from abroad in Egypt and other future markets,” said Kahled Elabd, CEO of Shiphaly.
Read also: B2B Marketplace Cartona secures US$4.5mn pre-Series A funding round
The new investment will be used to expand the online marketplace’s storefronts to Africa and other Middle Eastern nations, as well as to introduce new product features.
Click here to find out more!
Despite the fact that Shiphaly’s business has experienced certain obstacles in the first half of 2020 as a result of various Covid travel prohibitions around the world. It grew even more in the second half of 2020 and the early part of 2021, owing to significant demand from shoppers who are unable to go internationally. Shiphaly has seen a 25% month-over-month increase in delivered orders, as well as over 15,000 posted orders worth over $2 million, since the beginning of 2021.
“We are very excited about Shiphaly and we believe that Shiphaly offers a unique idea to solve an issue in many countries in the Middle East. Shipahly’s unique team offers the technical and commercial depth and experience to ensure the success of the company. We strongly believe that Shiphaly has the potential to grow exponentially in many markets with the advantage of having a low cost of entry to different markets being an e-marketplace,” Faisal Abdulsalam, the lead of this round said.
What You Need To Know About Shiphaly
Shiphaly, a marketplace connecting shoppers who want to buy products from abroad with travelers who can buy and deliver the products in exchange for a cash reward, was founded in 2019 by Khaled Elabd, Hisham Elshaer, Ibrahim Sabek, and Nader Nabil. It offers shoppers a 100% money-back guarantee in the event of any problems with their order.
Read the original article here