The data management startup will pour in the fresh funds towards becoming one of the country’s biggest data hubs.
Egypt-based digital software startupDigiFi Network has just scored a pre-seed funding round from Canadian VC firm, Loyal VC. The startup created a platform reliant on WiFi that enables business owners and advertisers to reach wider audiences through digital ads, with a lower cost.
The startup’s founders, Ahmed Nassef and Mohamed Maher, both hail from software and business development backgrounds that have greatly tied into founding DigiFi. The way the platform operates is that users can share their basic profile data with the business owner, and in return receive free WiFi at their establishment. The win-win model lies in that the user is able to enjoy free internet, while business owners are able to aggregate a database of customers and their demographic data to advertise to at a later time. The software also enables third party advertisers to promote to the same users, with a share of the amount spent on the ads going to the business owner.
So far the startup has amassed a portfolio of over 50 venues in Egypt, including hotels, restaurants and clubhouses. The platform is also the first Egyptian startup to be among Loyal VC’s cohort; who will provide mentorship and support in order to help DigiFi become one of the biggest data hubs in the country.
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