{"id":583242,"date":"2023-02-14T00:00:00","date_gmt":"2023-02-14T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2023\/02\/14\/meet-our-founder-of-the-week-sophia-korayim-co-founder-and-coo-of-weelo\/"},"modified":"2023-02-14T00:00:00","modified_gmt":"2023-02-14T00:00:00","slug":"meet-our-founder-of-the-week-sophia-korayim-co-founder-and-coo-of-weelo","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2023\/02\/14\/meet-our-founder-of-the-week-sophia-korayim-co-founder-and-coo-of-weelo\/","title":{"rendered":"Meet our founder of the week: Sophia Korayim, co-founder and COO of Weelo"},"content":{"rendered":"<p style=\"padding:0;margin:0;line-height:1.0699977272727272;orphans:2;widows:2;text-align:left\"><span style=\"\"> <\/span><span style=\"font-weight:700\">OUR FOUNDER OF THE WEEK<\/span><span style=\"\">\u2013 Every Tuesday, Founder of the Week looks at how a<\/span><span> successful member of Egypt\u2019s startup community got their big break, asks about their experiences running a business, and gets their advice for budding entrepreneurs. Speaking to us this week is Sophia Korayim (<\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.linkedin.com\/today\/author\/sophiakorayim\/\" style=\"\">LinkedIn<\/a><\/span><span>), co-founder and COO of <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.weelo.com.eg\/\" style=\"\">Weelo<\/a><\/span><span style=\"font-weight:400;\">.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.0699977272727272;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">My name is Sophia Korayim, and I\u2019m the co-founder and COO of Weelo<\/span><span style=\"\">, a US-based tech<\/span><span style=\"font-weight:400;\"> company (with a subsidiary in Egypt) aimed at revolutionizing sales and distribution channels for the supply chain. I have an MBA from Duke University and an undergraduate degree in finance and accounting. I\u2019ve been a director of centers of excellence over the past 15 years in the MENA region.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.0699977272727272;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">I started my career as a financial analyst with Merrill Lynch<\/span><span style=\"\"> and, as I was working with<\/span><span style=\"font-weight:400;\"> them, I kind of had a moral intervention and decided I didn\u2019t want to work for the private sector anymore. I wanted to help socioeconomic development, and that's why I started getting involved in centers of excellence. My last job was with the Abu Dhabi Chamber of Commerce. I was also responsible for a center of innovation and entrepreneurship in the UAE, where I lived for about the last 10 years.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.0699977272727272;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">I could see that the supply chain industry was ripe for disruption. <\/span><span style=\"\">The sales and<\/span><span style=\"font-weight:400;\"> distribution processes, especially in the FMCG industry, are incredibly complex and disjointed. My co-founder and I launched this business because we saw a chance to make an impact. We saw the potential for a technology solution that could streamline and simplify the processes for companies of all sizes.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.0699977272727272;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">We built Weelo to level the playing field.<\/span><span style=\"\"> Our solution manages sales channels from<\/span><span> warehouse to money collection. Other programs like SAP, Oracle, and Microsoft are incredibly expensive. It isn\u2019t fair when an SME doesn't have financial access to the technology, just because they can\u2019t afford it as much as big multinationals. Instead, these small players use simple or manual processes to manage their sales and distribution channels. That\u2019s where we identified the problem \u2014 and offered an affordable solution that manages sales channels from warehouse to money collection.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.0699977272727272;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">  <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.0699977272727272;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">What differentiates Weelo in the market is how user-friendly the platform is.<\/span><span style=\"\"> The programs<\/span><span style=\"font-weight:400;\"> built for sales and distribution platforms are usually very complex. As a result, the end users \u2014 the salespeople on the field and the marketing teams \u2014 are not using the technology to its full potential. We built a very user-friendly UX\/UI model that enables anyone \u2014 tech-savvy or not \u2014 to wield the technology.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.0699977272727272;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">That user friendliness is important, because of the tech that\u2019s actually provided.<\/span><span style=\"\"> We have<\/span><span style=\"font-weight:400;\"> a predictive analytics feature in the software that can predict sales for up to 90 days with c.92% accuracy. The platform has a customer stock feature allowing our clients to see what\u2019s on their customers\u2019 shelves and will then use buying behavior patterns to forecast that customer\u2019s future stock orders. It then notifies the sales manager that this customer is going to place an order within an anticipated amount of time with an anticipated amount \u2014 so our client knows to send their sales personnel to that customer to make the sale. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.0699977272727272;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Weelo gives users a 360-view of the organization<\/span><span style=\"\"> \u2014 especially the sales department, which<\/span><span style=\"font-weight:400;\"> is the bread and butter of any company. We offer a sales and distribution platform that manages multiple sales channels \u2014 instead of having to rely on multiple sales channels to be able to sell in the market \u2014 in one convenient software with efficiency. It centralizes the process and helps companies overcome inefficient systems. Importantly, Weelo also has a distributor module, which has typically been a black box. Companies like Nivea, Mongini\u2019s, or SC Johnson \u2014 all of which are our clients \u2014 have distributors that would previously just pay them for whatever they sell. But by using Weelo, they can actually see what\u2019s going on at the distributor.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.0699977272727272;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">We closely monitor three KPIs that are critical to our success:<\/span><span style=\"\"> Revenue, customer<\/span><span style=\"font-weight:400;\"> satisfaction, and most importantly, employee satisfaction. These indicators provide us with valuable insight into our business and allow us to identify areas for improvement, both internal and external.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.0699977272727272;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">Starting a business is not for the faint of heart. <\/span><span style=\"\">It requires a lot of hard work, sacrifice, and<\/span><span style=\"font-weight:400;\"> dedication. I gave up the security of a stable job and a steady income to pursue our vision, but I never looked back.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.0699977272727272;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">The most rewarding aspect of my job is seeing the impact that our technology has on our<\/span><span style=\"font-weight:700\"> clients.<\/span><span style=\"font-weight:400;\"> It gives me such a sense of pride and fulfillment. I can't tell you what happens when you see their eyes light up and say, \u201cOh my God; I can actually afford this tech.\u201d It's really a game changer. We\u2019ve many case studies of small and medium-sized manufacturers and distributors seeing over 40% increases in sales and 60% reductions in cost as a result of using Weelo.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.0699977272727272;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">The only challenging parts are the long hours and the pressure to succeed.<\/span><span style=\"\"> Our investors,<\/span><span style=\"font-weight:400;\"> clients, and followers all expect us to grow and succeed. But the rewards far outweigh the sacrifice.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.0699977272727272;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">My advice to anyone thinking of starting their own business is to be true to yourself and<\/span><span style=\"font-weight:700\"> your vision.<\/span><span style=\"font-weight:400;\"> Starting a business is a journey and it's essential to have a clear understanding of your goals and the steps you need to take to achieve them.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.0699977272727272;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:400;\">  <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.0699977272727272;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">It takes a village to build a successful company.<\/span><span style=\"\"> When I\u2019m faced with a difficult problem, I<\/span><span style=\"font-weight:400;\"> always turn to my business partner, Mohammed Asfour. He has a wealth of knowledge about the tech industry. I also seek advice from our mentors, industry extras, and a lot of trusted colleagues.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.0699977272727272;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">I\u2019ve built a very supportive network of colleagues and friends and family<\/span><span style=\"\"> who have been<\/span><span style=\"font-weight:400;\"> there for me every step of the way, so I didn\u2019t find the journey of building a startup to be lonely at all. I'm definitely a people person and I need my network to keep going.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.0699977272727272;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">We built this company from scratch<\/span><span style=\"\"> and there\u2019s a sense of pride and fulfillment that comes<\/span><span> with that. We started by bootstrapping the company, and some notable investors joined us along the way. <\/span><span>We were first incubated with Flat6Labs, then our first investment rounds were with SkaleUp Ventures, Integral Capital, AUC Angels, and Expert DoJo in California. We\u2019re currently working on closing our pre-series A round and seeking strategic investors that understand the supply chain and can help us support our regional expansion plans. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.0699977272727272;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">We\u2019re launching a new branch in Jeddah in the next month<\/span><span style=\"\">, then hopefully one in Dubai.<\/span><span style=\"font-weight:400;\"> In the short-term, we want to become the leading provider of sales and distribution technology in our industry. In the long term, we want to transform the way SMEs approach sales and distributions on a global scale.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.0699977272727272;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">We\u2019re always looking for the right strategic investor<\/span><span style=\"font-weight:700\">because it\u2019s not just money<\/span><span style=\"\">. Our<\/span><span style=\"font-weight:400;\"> investors understand our area and scope. We're very particular with who we drum up investments from.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.0699977272727272;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">If I were to exit my company tomorrow, I would do it through a trade sale or a merger with<\/span><span style=\"font-weight:700\"> one of our complementary companies <\/span><span>like Microsoft Dynamics, SAP, or Oracle. In that case, I\u2019d stay on with senior management or the board of directors to make sure the technology isn\u2019t dismantled or that it\u2019s just our customer base that\u2019s being capitalized on. I would <\/span><span>want<\/span><span style=\"font-weight:400;\"> to continue contributing to the growth and the success of the company.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.0699977272727272;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">My family\u2019s been incredibly supportive of my career choice.<\/span><span style=\"\"> They're really proud of what<\/span><span style=\"font-weight:400;\"> I've accomplished and they understand the sacrifices that come with building a business. My daughter is six months old, and I consider her Weelo\u2019s littlest intern. Sometimes when I'm on a Zoom call at home, I let her listen like she\u2019s in training.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.0699977272727272;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">The last great thing I read was<\/span><span style=\"font-weight:700\"><a href=\"https:\/\/theleanstartup.com\/\" style=\"\"><\/a><\/span><span style=\"-webkit-text-decoration-skip:none;font-weight:700;text-decoration-skip-ink:none\"><a href=\"https:\/\/theleanstartup.com\/\" style=\"\">The Lean Startup<\/a><\/span><span style=\"font-weight:700\"> by Eric Ries.<\/span><span style=\"\"> That\u2019s a book that has really<\/span><span style=\"font-weight:400;\"> impacted me, especially as an operations person. It's a really valuable resource for anyone starting a business.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.0699977272727272;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">I do a lot of traveling with my family whenever we have those long holiday weeks<\/span><span style=\"\">. A lot of<\/span><span style=\"font-weight:400;\"> it is Gouna, the North Coast, or travel abroad. I play squash, and when the weather\u2019s nice, I play golf \u2014 not during the winter though.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.0699977272727272;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">I can\u2019t even imagine not doing Weelo, but if I weren\u2019t, I\u2019d be working on another startup.<\/span><span> Entrepreneurship is in my blood. I have a passion for solving conflicts and creating things out of nothing. For now, I'm fully focused on making this company a success, but I do have a few ideas for future businesses that I'd love to pursue. There's so much that needs to be done in the supply chain field. I\u2019d also definitely love to be a university professor. I'd probably teach entrepreneurship and innovation \u2014 that's kind of my retirement plan.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>I could see that the supply chain industry was ripe for disruption<\/p>\n","protected":false},"author":1,"featured_media":583243,"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":[7357],"tags":[633,1530,123,6781],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-583242","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-founder-of-the-week","tag-enterprisepm","tag-founder-of-the-week","tag-startups","tag-weelo","wpautop","entry"],"acf":{"mongo_id":"9308ac7a-ec3a-4024-b1ea-c7c20302493a","is_powered_by":false,"story_type":"1","photo_url":"http:\/\/enterprise.press\/wp-content\/uploads\/2023\/02\/SophiaKorayimWeelo1600px.jpg","photo_position":"below","homepage_title":"","full_issue_title":"","related_issue":[583227],"teaser":"I could see that the supply chain industry was ripe for disruption"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Meet our founder of the week: Sophia Korayim, co-founder and COO of Weelo - 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\/2023\/02\/14\/meet-our-founder-of-the-week-sophia-korayim-co-founder-and-coo-of-weelo\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Meet our founder of the week: Sophia Korayim, co-founder and COO of Weelo\" \/>\n<meta property=\"og:description\" content=\"I could see that the supply chain industry was ripe for disruption\" \/>\n<meta property=\"og:url\" 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