Egyptian Beauty Startup Glamera Raises $1.3 Million Seed Round
The new funding raised will be used to continue developing the platform’s services, and further expanding in the GCC.
Glamera, an Egypt-born SaaS startup, has raised $1.3 million in a Seed round led by Riyadh Angel Investors (RAI), with participation from Techstars Accelerator, Ithraa Venture Capital, 100 Ventures, Silicon Valley Venture 'Lucrative Ventures', and Super Angel Investors.
Founded in 2020 by Mohamed Hassan and Omar Fathy, Glamera is an all-in-one platform that provides B2B services to beauty and lifestyle service providers, as well as a B2B2C marketplace where consumers can book beauty services directly from the app.
“We have successfully validated the market need and now we can confidently work towards leading the market with our fully integrated solutions and play part in the Saudi digital transformation vision 2030,” Mohamed Hassan, Founder and CEO of Glamera, tells StartupScene.
Although founded in Egypt, the startup has relocated to Saudi Arabia, where it now covers several cities in the country including Riyadh, Jeddah, Damam, Taif, Qassem, Madina, and Tabuk. It also provides services in Egypt, including Cairo and Alexandria.
According to the startup, it has facilitated a gross merchandise value (GMV) of $45 million since it was launched two years ago, and it now aims to reach $500 million GMV by end of 2023.
The new funding raised will be used to continue developing the platform’s services, and further expanding in the GCC.
