Egyptian E-commerce SaaS Startup Awfar Raises Funding

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 the country.

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.

Value Maker Studio (VMS) is set to launch the Bridge Program early next year, to help Egyptian tech startups seamlessly expand to Saudi Arabia. The program is held in partnership with the Arab Academy for Science and Technology and Maritime Transport, the Egyptian Federation of Chambers of Commerce, the General Division for Digital and Technology Economy, Adventurers, Cash Cow, U Youth, and FALAK.

The three-day-long program consists of intensive training and mentorship sessions that provide participants with insights into the Saudi market and its investment landscape, further assisting them with identifying target audiences, understanding customer behavior and preaching processes.