Egyptian telecoms app Raseedi raises USD 400k in seed funding

STARTUP WATCH- Raseedi raises USD 400k in seed funding: Cairo-based telecoms app Raseedi has raised USD 400k in a seed funding round led by 500 Startups with participation of Falak Startups and EFG-EV Fintech, according to Menabytes. The Android app helps dual SIM card users save money on cross-network charges by automatically detecting which card will make the cheaper call. Making calls to a phone on a different network can be up to five times more expensive, which Raseedi says has led to a growth in popularity of dual SIM phones. The company plans to use the investment to develop a function that allows users to recharge both SIM cards using Raseedi credit.