Catalyzing Growth
Egyptian-based group-buying startup Waffarha has successfully closed a seven-figure seed round, signaling a pivotal moment in its growth trajectory. The funding infusion will fuel the expansion of its technology infrastructure, talent acquisition, and geographic footprint, with plans to extend operations into Saudi Arabia and beyond.
Innovative Savings Platform
Founded in 2012 by Tarek Magdy and Noha Hamdy, Waffarha stands out as a premier group-buying website and mobile app, offering exclusive daily deals with discounts ranging from 50 percent to 90 percent. Its innovative approach to delivering savings has garnered a substantial following, with over five million customers benefiting from deals curated from a network of more than 1,000 merchants and 3,000 stores.
Strategic Partnership with VMS
The recent funding round, led by the Saudi Arabian Value Makers Studio (VMS), marks a strategic partnership aimed at propelling Waffarha's expansion initiatives. Leveraging VMS's expertise and resources, the startup is poised to penetrate the Saudi Arabian market, intensify marketing efforts, and introduce new services such as bill payment.
Vision of VMS
VMS, renowned as a venture studio, is committed to nurturing exceptional entrepreneurs, fostering technological innovation, and catalyzing economic growth. Through its "Bridge Programme," VMS facilitates the seamless expansion of Egyptian tech startups into the Saudi market, positioning itself as a catalyst for cross-border collaboration and business development.
Forward Momentum
With the backing of VMS and a clear vision for growth, Waffarha is primed to embark on an exciting chapter of expansion and innovation. By leveraging its proven track record, robust network of merchants, and a commitment to delivering value to consumers, the startup is set to redefine the group-buying landscape in Saudi Arabia and beyond.
