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Egyptian e-commerce SaaS startup Awfar raises funding from VMS

Egypt-based SaaS e-commerce startup Awfar has secured a six-figure sum from Saudi Arabia-based venture studio Value Maker Studio (VMS) to expand its presence in Saudi Arabia. More details about this collaboration inside.
05.11.23 | Source:

The Egyptian SaaS e-commerce startup Awfar, which was founded in 2020 by Abdelrahman Galal, has raised a substantial six-figure funding round from Saudi Arabia's Value Maker Studio (VMS). The SaaS startup is renowned for its fully integrated tech solutions for retail businesses. These solutions are cloud-based offerings, point of sale (POS), commercial and operational reporting, delivery management solutions, and more. The platform enables retail businesses to improve their customer engagement strategies and sales operations significantly. Awfar's collaboration with VMS has been highlighted as a significant milestone in its journey, especially with the upcoming launch of VMS's 'Bridge Programme'. The programme is designed to assist Egyptian tech startups seamlessly expand into Saudi Arabia. The startup faced significant challenges navigating its expansion into Saudi, including complex legal requirements and establishing market connections. But thanks to its partnership with VMS and the Bridge Programme, it successfully overcame these hurdles. The CEO and Co-founder of Awfar commented that the collaboration has helped them secure contracts and partnerships with major chains in Saudi Arabia in less than a month. VMS aims to empower tech startups in Egypt to succeed, reduce risks, and offer them a range of support services through the Bridge Programme. By partnering together, Awfar and VMS aim to foster innovation, promote economic growth, and unlock the immense potential of the Saudi market.