Egyptian SaaS e-commerce startup Awfar has secured six-figure US dollar funding from Saudi Arabia-based venture studio Value Maker Studio (VMS) to expand its presence in the latter country.
Founded in 2020 by Abdelrahman Galal, Awfar offers fully integrated technology solutions for retail businesses, including cloud-based offerings, point of sale (POS), commercial and operational reporting, and delivery management solutions in one dashboard integrated with retail aggregators, third-party logistics providers, and analytics and marketing capabilities.
Over the years, it has 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.
VMS, meanwhile, is a venture studio that brings together a diverse range of talents, resources, and ideas to transform innovative concepts into thriving businesses. Its mission is to actively empower exceptional entrepreneurs, drive technological innovation, foster job creation, and secure a strategic foothold within the Saudi market.
The company is launching its “Bridge Programme” early next year, to help Egyptian tech startups seamlessly expand to Saudi Arabia. It is through this that it has invested a six-figure sum in Awfar, while Disrupt Africa reported last month it had invested in Egyptian ed-tech startup OBM Education under the same programme.
“Our collaboration with Value Maker Studio marks a significant milestone in our journey. VMS’s Bridge Programme has been instrumental in helping us overcome the challenges 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,” said Galal.
