Cairo Marketplace ShipHaly Scores Six-Figure Fund from KSA Investors
The app and platform connects shoppers with travellers who can ship goods back home with them.
A prolific investor in startups in Egypt and his native Saudi Arabia, Faisal Abdulsalam has led a six-figure investment in Egyptian startup, ShipHaly.
Launched at the end of 2019, ShipHaly connects shoppers looking to buy products from abroad with travellers who can buy and deliver the products in return for commission or cash reward.
Having been accelerated and received seed funding from Flat6Labs in Cairo, ShipHaly 25 per cent month-over-month growth in the delivered orders as well as more than 15,000 posted orders with a value of $2 million in 2021.
For Abdulsama, ShipHaly provides a unique service in an e-commerce sector that has grown exponentially on the back of the pandemic.“We believe that Shiphaly offers a unique idea to solve an issue in many countries in the Middle East. Shipahly’s unique team offers the technical and commercial depth and experience to ensure the success of the company. We strongly believe that Shiphaly has the potential to grow exponentially in many markets with the advantage of having a low cost of entry to different markets being an e-marketplace.”
