The funds will be used to develop and introduce more talent to the market.
Egyptian home services marketplace FilKhedma scores an undisclosed investment in a round led by Algebra Ventures and Glint Consulting, which will be used to grow its position in the MENA-based market. The funds will also aim to attract more talent to its operations, development and marketing team in an effort to grow the startup’s userbase.
“We are happy to welcome Algebra Ventures and Glint as partners in our vision to solve Egypt’s daily pain with home services. Our growing team is now working harder to revamp our technology and offer a seamless customer experience in what has always been a messy process in Egypt,” says Omar Ramadan, founder of FilKhedma.
Established in 2014, FilKhedma is an online marketplace for home maintenance and improvement services such as carpentry, plumbing, electricity, air conditioning, appliance repair and painting. The startup already serves thousands of customers in Cairo, with nine on-demand services with a repeat order rate of over 75%. As part of their mission to disrupt the home services market in Egypt, the startup connects households and businesses with reliable, high-quality professional technicians through the use of technology.
Algebra Ventures has been a prominent member of the Egyptian startup ecosystem, having raised a total of $40 million in last year’s December to invest in tech startups. The VC firm has already backed food discovery platform Elmenus, and online grocery startup GoodsMart.
“We are excited about this investment that would help address the needs of households and businesses, reinvent the service culture and create more employment and additional income opportunities for service providers,” said Irini Raafat, co-founder and associate partner at Glint.
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