by k z | Aug 7, 2024 | Startups News
Egypt-based fintech Qardy has secured a seven-figure pre-seed round of investment. Notably, White Field Ventures, Vastly Valuable Ventures, and several angel investors participated. This funding highlights the strong confidence in Qardy’s innovative approach and its growth potential.
Qardy :Innovative Digital Lending Platform
Founded in 2022 by Abdelaziz Abdel Nabi, Asser Yehia, and Tamer El-Manasterly, Qardy is transforming digital lending in Egypt and the MENA region. Specifically, it is the first digital lending marketplace dedicated to micro, small, and medium-sized enterprises (MSMEs). Consequently, Qardy provides essential financing solutions that help MSMEs scale and grow.
Expanding Qardy Platform Capabilities
Moreover, the new investment will significantly enhance Qardy’s platform and enable service expansion across the MENA region. Since its soft launch in late 2022, Qardy has made substantial progress. For instance, it has attracted over 1,000 corporate clients and executed loan transactions exceeding 550 million Egyptian pounds (about $12 million). Therefore, Qardy is making a significant impact.
Tailored Financial Solutions for MSMEs
Qardy’s technology offers a range of tailored financial programs. These programs support MSMEs with their working capital and expansion needs. By connecting businesses with a broad network of financial institutions—including banks, leasing companies, factoring firms, and microfinance organizations—Qardy effectively facilitates essential funding.
Investor Support and Future Plans
Tamer El-Manasterly, COO of Qardy, expressed excitement about this milestone: “We are thrilled to reach this point. The support from our investors has been crucial. As a result, this investment will allow us to enhance our services and expand in Saudi Arabia and the region.”
Backing from 500 Global and White Field Ventures
500 Global has also expressed strong support for Qardy’s mission. Amal Dokhan, Managing Partner at 500 Global, commented, “We are excited to support Qardy. Their work empowers businesses with accessible financial solutions. Indeed, we believe in their potential to drive positive change.”
Similarly, White Field Ventures has shown enthusiasm. Kapil Agrawal, Managing Director, stated, “We are pleased to support Qardy’s vision. Their execution capabilities and commitment to customer solutions align perfectly with our investment goals. Consequently, we look forward to their expansion into Saudi Arabia and beyond.”
Reputation for Excellence
With a strong focus on transparency and efficiency, Qardy has quickly built a reputation for excellence in financial services. As the company continues to innovate and expand, it remains dedicated to revolutionizing financial service delivery and driving MSME growth across the MENA region.
by k z | Aug 6, 2024 | Actionable Tips & Advice
Starting a new business is an exhilarating journey; however, getting the word out about your startup can be challenging. Therefore, effective advertising is crucial for gaining visibility and attracting potential customers. Here are some actionable tips and advice on how to advertise your startup business successfully.
1. Understand Your Target Audience
Before you start any advertising campaign, it’s essential to understand your target audience. Who are they? What are their interests, needs, and pain points? By defining your target audience, you can tailor your advertising efforts to reach the right people.
2. Develop a Strong Brand Identity
Your brand identity is the face of your startup. It includes your logo, color scheme, typography, and overall style. Consequently, a strong, cohesive brand identity helps your business stand out and makes your advertising more memorable.
3. Leverage Social Media
Social media platforms are powerful tools for advertising. Here’s how to make the most of them:
- Choose the Right Platforms: Focus on the social media platforms where your target audience is most active. For instance, if your audience is younger, platforms like Instagram and TikTok may be more effective.
- Create Engaging Content: Share a mix of content, including images, videos, and blog posts, to keep your audience engaged. Additionally, interactive content like polls and live videos can boost engagement.
- Utilize Hashtags: Use relevant hashtags like #Startups and #KZAAD to increase your content’s visibility. Moreover, consider creating a unique hashtag for your brand to foster community engagement.
4. Invest in Search Engine Optimization (SEO)
SEO is a long-term strategy that helps your website rank higher on search engine results pages. Here are some SEO tips:
- Use Relevant Keywords: Incorporate keywords related to your business and industry throughout your website and content. Furthermore, use tools like Google Keyword Planner to find the best keywords for your niche.
- Create Quality Content: Regularly update your blog with valuable and informative content that addresses your audience’s needs. In addition, ensure your content is well-structured and easy to read.
- Optimize Meta Descriptions: Write compelling meta descriptions for each page to improve click-through rates. Therefore, make sure they accurately reflect the content and include relevant keywords.
5. Utilize Paid Advertising
Paid advertising can give your startup an immediate boost. Consider these options:
- Google Ads: Target specific keywords to appear at the top of search results. Thus, potential customers searching for related terms will find your business first.
- Social Media Ads: Platforms like Facebook and Instagram offer targeted advertising options. Moreover, you can use demographic data to ensure your ads reach the right audience.
- Display Ads: Use banner ads on relevant websites to reach a broader audience. Additionally, retargeting ads can help keep your brand in front of people who have already visited your site.
6. Network and Collaborate
Building relationships with other businesses and influencers can amplify your advertising efforts. Therefore, consider:
- Partnerships: Collaborate with complementary businesses to reach a wider audience. For example, if you sell fitness equipment, partner with a health food brand for joint promotions.
- Influencer Marketing: Partner with influencers in your industry to promote your products or services. Consequently, their endorsement can lend credibility and expand your reach.
7. Attend Industry Events
Industry events, such as trade shows, conferences, and networking events, provide opportunities to showcase your startup. Hence, make sure to:
- Prepare Marketing Materials: Have business cards, brochures, and other marketing materials ready. Additionally, consider creating a memorable booth or display to attract attention.
- Engage with Attendees: Network with potential customers, partners, and investors. Therefore, be ready to pitch your business and answer any questions they might have.
8. Measure and Adjust Your Strategy
Regularly analyze the performance of your advertising campaigns. Consequently, use tools like Google Analytics to track website traffic and conversions. Based on the data, adjust your strategy to improve results. For example, if a particular ad isn’t performing well, try tweaking the messaging or targeting a different audience.
Conclusion
Advertising a startup business requires a strategic approach and consistent effort. By understanding your audience, developing a strong brand, leveraging social media, investing in SEO, utilizing paid advertising, networking, attending events, and measuring your efforts, you can effectively promote your startup and achieve your business goals.
For more tips and insights on growing your startup, stay tuned with our daily blogs and follow us on social media.
by k z | Jul 31, 2024 | Startups News
Egypt’s B2B platform, Cartona, recently raised an additional $8.1 million in a Series A extension round. Notably, Algebra Ventures led the funding, with ongoing support from existing investors Silicon Badia and the SANAD Fund for MSME.
This latest extension follows a previous $12 million Series A round, which was also led by Silicon Badia. Thus, this continuous investor confidence highlights Cartona’s strong position and significant growth potential.
Strategic Allocation of Funds
Specifically, Cartona plans to allocate $5.6 million of the new equity capital to drive growth across various verticals, including FMCG (Fast-Moving Consumer Goods) and HORECA (Hotels, Restaurants, Cafes). Consequently, the company aims to expand its market share, lay the groundwork for regional expansion in MENA, and explore promising B2B2C (Business-to-Business-to-Consumer) opportunities.
In addition, Cartona will use $2.5 million in debt capital from Camel Ventures and GlobalCorp to support local retailers. This debt, raised under competitive local terms, will help retailers access essential working capital, thereby boosting their operational efficiency.
Asset-Light Business Model
Furthermore, Cartona’s asset-light business model stands out in today’s inflationary environment. By keeping costs low and maintaining robust unit economics, Cartona demonstrates both resilience and scalability. The platform effectively connects retailers directly with wholesalers, suppliers, and FMCGs, thus simplifying distribution and improving stock management.
Transforming Egypt’s Traditional Trade Market
Moreover, Cartona’s platform supports various stakeholders in Egypt’s trade market, such as mom-and-pop stores, hotels, restaurants, cafes, FMCG companies, and wholesalers. With over 188,000 retailers and a presence in 17 Egyptian cities, Cartona is making significant strides in enhancing market efficiency and financial inclusion.
Retailers benefit from features like order pooling and inventory financing, which not only improve profit margins but also facilitate business growth. Importantly, Cartona’s scalable infrastructure serves 3,000 customers and demonstrates the model’s rapid growth potential.
Leadership and Investor Confidence
In this context, Mahmoud Talaat, CEO and Co-Founder of Cartona, expressed his enthusiasm about the successful fundraise: “We are pleased to complete a Series A extension from a strong position. Our positive operational and financial metrics have helped us attract capital from both existing and new investors. Consequently, we remain committed to transforming the traditional trade market and creating value for all stakeholders.”
Similarly, Omar Khashaba, General Partner at Algebra Ventures, praised Cartona’s efficient model: “Cartona has achieved strong growth and profitability, even amid economic challenges. Moreover, its asset-light approach offers scalable infrastructure that can be adapted to new markets. Cartona has also promoted financial inclusion in the retail sector.”
A Bright Future Ahead
As a result, Cartona’s recent funding round represents a key milestone in its mission to revolutionize Egypt’s traditional trade market. With a strong focus on growth, regional expansion, and financial inclusion, Cartona is well-positioned to replicate its success across the MENA region. The company is set to make trading more accessible for retailers and suppliers.
Stay updated on Cartona’s developments and strategic moves as it continues to lead the digital transformation in Egypt and beyond.
For more actionable tips and advice on launching and growing your startup, visit kzaad.com. Follow us on social media with the hashtags #Startups and #KZAAD for daily news updates and insights.
by k z | Jul 3, 2024 | Investment Analysis
The MENA region is experiencing a significant boom in its startup ecosystem, attracting growing investor interest. Here’s a breakdown of some key trends and investment opportunities:
Investment Trends:
- Surge in Venture Capital: Venture capital deployment in the MENA region has steadily increased, reaching over $2.58 billion in 2020 (source: STV) compared to $1.09 billion in 2017. This trend is expected to continue, with predictions of even higher investment levels in the coming years.
- Focus on Early-Stage Startups: While late-stage investments were more common in the past, VCs are now focusing on funding early-stage startups with high growth potential, as valuations might be more attractive.
- Increase in Consolidation: Experts predict an increase in mergers and acquisitions (M&A) activity as startups within the region mature and consolidate their positions in the market.
- Alternative Funding Options: Venture debt is gaining traction as an alternative financing option for startups struggling with traditional venture capital funding rounds.
Investment Opportunities:
Here are some of the hottest sectors attracting investor attention:
- Fintech: This remains a dominant sector with continued growth in mobile payments, digital lending, and insurtech solutions. (e.g., Tamara, Paymob)
- Ecommerce: The rise of online shopping is fueling the growth of e-commerce platforms and logistics startups. (e.g., Ejari)
- Healthtech: Increasing demand for accessible and affordable healthcare is driving investments in telemedicine, remote patient monitoring, and AI-powered healthcare solutions. (e.g., UDENZ)
- Edtech: The post-pandemic focus on education technology offers opportunities for startups developing online learning platforms and personalized learning solutions.
- Proptech: Digital solutions for the real estate sector, such as property management platforms and virtual reality tours, are gaining traction.
Considerations for Investors:
- Market Specificity: The MENA region is diverse. Understand the specific opportunities and challenges within each country you’re interested in.
- Regulation: Regulatory landscapes can vary across the region. Do your due diligence regarding regulations impacting your target sector.
- Talent Acquisition and Retention: Finding and retaining top talent within the region can be challenging. Evaluate a startup’s strategy for addressing this.
Investing in the MENA startup ecosystem comes with its own set of challenges, but the potential rewards are significant. By understanding the current trends and focusing on promising sectors, investors can capitalize on the exciting growth happening in this region.
by k z | Jul 1, 2024 | Startups News
Iraqi food and last-mile delivery app Alsaree3 has secured a significant seven-figure Series A investment to fuel its growth and empower the country’s startup ecosystem. This marks a major milestone for both the company and the Iraqi tech scene.
Capitalizing on Craving:
Fueled by the surging demand for convenient food delivery in Iraq, Alsaree3 will leverage this fresh capital injection to expand its reach, enhance its services, and solidify its leadership position in the Iraqi food delivery market.
Strategic Investment Boosts Alsaree3 Iraqi Tech:
The funding round, led by Euphrates Ventures with participation from prominent investors like Snoonu and Iraq Venture Partners (IVP), highlights the growing confidence in Iraqi startups. Significantly, Snoonu, a major Qatari e-commerce player, joins the round, forming a strategic alliance. This partnership will combine Alsaree3’s local expertise with Snoonu’s advanced logistics technology, creating a powerful force in the regional market.
Rising Tide Lifts All Boats:
This investment underscores the immense potential of the Iraqi startup scene, attracting regional powerhouses like Snoonu. In turn, Alsaree3’s success will have a positive ripple effect across the Iraqi startup scene. Mohammed Khudairi, IVP General Partner, emphasizes their commitment: “We’re behind Alsaree3, a high-potential Iraqi startup, and will support their journey.” Their success paves the way for a new era of innovation in the country.
Industry Experts Applaud:
- Bassam Al-Ateia, Alsaree3 Founder, expresses his enthusiasm: “Partnering with a leader like Snoonu, while retaining existing investors’ trust, benefits everyone. This investment will significantly impact the Iraqi startup ecosystem.”
- Hamad Mubarak Al-Hajri, Snoonu Founder & CEO, adds: “We’re proud to support Alsaree3 and the Iraqi startup ecosystem. Together, we see immense growth potential for an Iraqi company to thrive regionally.”
- Geoffrey Batt of Euphrates Ventures remarks: “Alsaree3 is a true Iraqi success story. This round signifies not just investment, but a valuable technology exchange between Snoonu and Alsaree3.”
Alsaree3’s journey underscores the remarkable potential of the Iraqi tech sector. With this significant funding, Alsaree3 is poised to revolutionize food delivery in Iraq and inspire a new wave of innovation in the region.
