Fawry invests in Sudan classifieds and market platform alSoug
Fawry has introduced an funding into alsoug.com, Sudan’s largest Classifieds, and Market Platform. That is its first abroad enterprise capital funding by Fawry exterior its Egypt house market.
The deal includes the acquisition of a strategic minority stake in alsoug.com/Cashi holding firm whereby the funding might be channeled in direction of the event of a brand new fintech platform Cashi. This $5m spherical will assist the corporate’s catalyzing the involvement of different strategic western enterprise capital gamers.
As a strategic investor Fawry will leverage its lengthy monitor file with white label know-how options to help the platform to scale and improve the platform’s service provider acquisition operation whereas refining its go-to-market method and providing worthwhile insights that inform high-level methods throughout all different companies segments.
Fawry is an e-payment resolution supplier and digital banking service supplier. It was again in September when Fawry invested in Brimore, an Egypt social commerce startup. Fawry has established a strategic partnership with the Sudanese shopper platform with an eye fixed to scaling up its funds know-how platform past Egypt