{"id":548527,"date":"2022-08-11T03:51:15","date_gmt":"2022-08-11T03:51:15","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2022\/08\/11\/convertedin-sharwa-close-funding-rounds\/"},"modified":"2022-08-11T03:51:15","modified_gmt":"2022-08-11T03:51:15","slug":"convertedin-sharwa-close-funding-rounds","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2022\/08\/11\/convertedin-sharwa-close-funding-rounds\/","title":{"rendered":"Convertedin + Sharwa close funding rounds"},"content":{"rendered":"

<\/a> Marketing startup <\/strong>Convertedin<\/a><\/strong> has closed a USD 3 mn seed round<\/strong>, it said in a press release picked up by Zawya<\/a>. The round was led by Saudi tech investor Merak Capital<\/a> with participation from 500 Global<\/a> and MSAS.<\/p>\n

Marketing for e-commerce<\/strong>: <\/strong>Founded in 2019 by Mohamed Fergany (LinkedIn<\/a>), Mohamed Atef (LinkedIn<\/a>) and Mustafa Raslan (LinkedIn<\/a>), Convertedin operates a marketing platform targeted at e-commerce companies. The company says its data-driven services help businesses double their return on ad spend and cut customer acquisition costs by 40%. It is working with local and multinational companies in the Middle East, Africa and South America, and has offices in Saudi Arabia and Brazil in addition to its Egyptian HQ.<\/p>\n

What\u2019s next: <\/strong>The company will use the funding for hiring and platform development, according to the statement. It also wants to expand across MENA and Latin America.<\/p>\n

\n

IN OTHER STARTUP NEWS- Social commerce startup <\/strong>Sharwa<\/a><\/strong> raised USD 2 mn in a pre-seed funding round <\/strong>co-led by Nuwa Capital<\/a> and Hambro Perks\u2019 Oryx Fund<\/a>, with participation from several strategic angel investors, according to a press release<\/a> picked up by Wamda.<\/p>\n

Sharwa gets you cheaper household goods: <\/strong>Founded earlier this year by Aladdin Shalaby (LinkedIn<\/a>), Hassan Elshourbagi (LinkedIn<\/a>) and Mohamed Hanafy (LinkedIn<\/a>), Sharwa is an e-commerce platform that allows customers to club together and purchase household items at wholesale prices. The startup was launched as an answer to spiraling inflation in Egypt, according to Sharwa\u2019s website. The platform \u2014 which currently has \u201ctens of thousands\u201d of customers \u2014 is operating in Cairo and \u201cnearby areas,\u201d according to the press release.<\/p>\n

Where the money\u2019s going:<\/strong> The funds will be used to expand the team and develop the online platform. The company also has ambitions to launch nationwide across Egypt and process hundreds of thousands of orders in the next 12 months.<\/p>\n","protected":false},"excerpt":{"rendered":"

Marketing startup Convertedin has closed a USD 3 mn seed round, it said in a press release picked up by Zawya. The round was led by Saudi tech investor Merak Capital with participation from 500 Global and MSAS. Marketing for e-commerce: Founded in 2019 by Mohamed Fergany (LinkedIn), Mohamed Atef (LinkedIn) and Mustafa Raslan (LinkedIn), […]<\/p>\n","protected":false},"author":1,"featured_media":548528,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7258],"tags":[2240,199,72,2241,95,123],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-548527","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-startup-watch","tag-convertedin","tag-e-commerce","tag-enterpriseam","tag-sharwa","tag-startup-watch","tag-startups","wpautop","entry"],"acf":{"mongo_id":"c0547248-f035-41db-9c17-f7139c317f07","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2022\/8\/222.jpg","photo_position":"above","related_issue":[548510],"teaser":"","voice_url":""},"yoast_head":"\nConvertedin + Sharwa close funding rounds - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2022\/08\/11\/convertedin-sharwa-close-funding-rounds\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Convertedin + Sharwa close funding rounds\" \/>\n<meta property=\"og:description\" content=\"Marketing startup Convertedin has closed a USD 3 mn seed round, it said in a press release picked up by Zawya. The round was led by Saudi tech investor Merak Capital with participation from 500 Global and MSAS. 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