Egyptian startup Sideup raises $1.2m to grow its e-Commerce platform
Sideup, the MENA region’s platform for e-Commerce services has announced the completion of a $1.2m seed round.
This round saw participation 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. The startup was previously known as Voo, which operated one of the leading logistics marketplaces in the region.
Sideup provides a number of services, 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, fulfillment and advisory, from one platform.
The platform 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 over the next 12 months. As part of its plans for Saudi Arabia, it will relocate its headquarters to Riyadh and hire for a number of new roles in the country.
Waleed Rashed, Founder and CEO, Sideup: ''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.''
The startup’s platform also allows merchants to operate cross-border across 45 countries, accessing new markets and audiences for their products. Similarly, service providers can discover new customers and revenue streams.
Mohamed Karar, Venture Partner, Launch Africa Ventures: ''We are excited to back Sideup, a company that is transforming the e-commerce industry across the entire region by connecting business owners to world-class services and partners. Their progress so far has been inspiring and is a true example of how technology is solving challenges that are unique to our region. VOO has a robust product and a talented team across the business. We are thrilled to be joining them on their journey as they venture into new markets.''
Khalid Al Tawil, Co-founder, Riyadh Angels: ''e-Commerce remains fragmented across most of the region, creating a number of challenges for business owners. Sideup’s platform is a giant leap forward giving them a single place to access partners and technology to grow their businesses exponentially. We are excited to see them come to Saudi Arabia and support businesses through their next phase of growth.''
