Egypt-based travel startup Tripdizer has secured $300,000 in seed funding led by 500 Startups (500 Falcons).
“The Middle East is the fastest-growing outbound travel market in the world and we are seeing a high rate of internet and technology adoption. It is expected that over the next 2 years that 50% of the travel bookings will be made online and we want to be at the forefront of such a wave in the region. There has never been a better time for a solution like Tripdizer, not only because it fills a gap in the travel ecosystem but also because the demand is growing for online travel booking services,” Ziad Eladawy, the founder and CEO of Tripdizer said on the occasion.
Here Is The Deal
- Joining this round of financing are Innoventures and an angel investor Jamal El Dabal.
- However, there is still speculative as to whether the entire investment that Tripdizer had received is fresh capital or also includes the $150,000 the startup had received from 500 Startups while participating in MENA Dojo.
- The Egyptian startup plans to use the investment to further develop its product and expand its regional footprint.
- Tripdizer was part of 500 Startups’ Series A program MENA Dojo earlier this year.
Why The Investors Invested
According to Sharif El-Badawi, Managing Partner at 500 Startups MENA
“In the MENA region, there has been significant growth in online travel market, as tech-savvy consumers are now looking for an overall travel booking experience where they want to plan and book their accommodation, tickets, tours/activities all on one common platform. In such a market, Tripdizer is strategically positioned to change complicated and intricate travel plans into an exciting, comfortable and memorable travel experience.”
“Since its inception, Tripdizer has been growing steadily at 30% month-on-month, successfully increasing the customer base to thousands of travelers. We are pleased to have led this funding round and look forward to working closely with this remarkable team as they advance to the forefront of the travel industry,” he added.
What TripDizer Does
Founded in 2017 by Ziad El Adawy, Yara Yehia, Sameh Saleh (who also co-founded Harmonica, the dating startup that was acquired by Match Group earlier this year), Hatem Ayoub and Mohamed Mostafa, Tripdizer enables travelers (mainly millennials) in Egypt to plan and book international (holiday) trips by learning about their preferences including purpose, budget, and the kind of activities they’re interested in.
Once the user submits this information, they’re provided with flight and accommodation options to choose from instantly on Tripdizer’s website. We could not confirm but it appears that the transaction happens offline. Tripdizer apparently after receiving these details gets in touch with the customer to confirm and book their trip after receiving the payment offline.
“We have experienced a tremendous increase in demand for personalized trips in recent years and we are proud that we are well-positioned to meet this ever-growing demand for unique and innovative travel experience and itineraries. We would like to thank our investors in believing in our team and our efforts to establish as the leader in the travel tech industry,” Ziad Eladawy said.
Read also: Here Are Reasons Egypt’s Startup Ecosystem Is Booming
Comments:
One remarkable thing for Egypt’s startups this year is that virtually all sectors of the startup ecosystem has recorded some appreciable amount of investment from investors, unlike other Africa countries that saw major investments in logistics, transport, cleantech or fintech. Tripdizer has just added to the list of this diversity in investment areas.
Charles Rapulu Udoh
Charles Rapulu Udoh is a Lagos-based Lawyer with special focus on Business Law, Intellectual Property Rights, Entertainment and Technology Law. He is also an award-winning writer. Working for notable organizations so far has exposed him to some of industry best practices in business, finance strategies, law, dispute resolution, and data analytics both in Nigeria and across the world