BrandArena: Egyptian startup SideUp Secures $1.2 Million in Seed Funding, Extends Operations

Tuesday 6 December 2022

Egyptian startup SideUp Secures $1.2 Million in Seed Funding, Extends Operations

Egypt’s statup, SideUp has raised $1.2 million in Seed round from leading global and regional investors in early-stage growth startups, including Launch Africa VC, 500 Global, Riyadh Angels, Alex Angels, Al Tuwaijri Fund and Saudi angel investor Faisal AlAbdulsalam.

Launched in 2019, SideUp empowers e-commerce business owners with a suite of technology solutions which enables partnerships, and integrations, to achieve scale and grow revenue. SideUp was previously known as VOO, which operated one of the leading logistics marketplaces in the region.  

Driven by the mission to simplify the e-commerce industry, SideUp provides a number of services, while allowing business owners to focus on their core operations. Built to solve challenges for the e-commerce economy, businesses can access payment gateways, API integration for shipping, warehousing, fulfilment, and advisory, from one platform.

SideUp will utilise its investment capital to double down on its presence in Egypt, launch operations in Saudi Arabia with the opening of an office, and further develop a new range of solutions for customers over the next 12 months. As part of its plans for Saudi Arabia, SideUp will relocate its HQ to Riyadh and hire for a number of new roles in the country.

“Online businesses are shaping the future of our economy but they continue to face a number of challenges which limit their growth potential. At SideUp, our platform connects merchants with a range of services from industry leaders, allowing them to focus on growing revenues while we take care of the rest. Today we are excited to enter a new phase of growth as we plan to take SideUp to new markets including the launch of our Saudi Arabia office. With the backing of our investors, we are well positioned to transform the e-commerce industry across the Middle East and Africa,” said Waleed Rashed, Founder & CEO of SideUp.

With a young, digital-native population, the MENA region’s e-commerce sector is set to grow to $104.1 billion by the end of 2022. However, e-commerce businesses continue to face growth challenges that are specific to different parts of the region, from payments to delivery.

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