MobileMasr secured $500,000 in a seed round, including participation from major angel investors in the media and telecom industries in the UAE and Qatar, in collaboration with Intercap Capital Investment Bank.
The money will be used to strengthen MobileMasr’s position as an e-commerce platform specialised in the sale of used mobile phones and tablets, as well as to develop further with the introduction of new innovative goods and services.
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“Lack of trust is the biggest barrier to buying used phones online. By designing and developing mobile diagnostics software that checks and reports on the phone, we solved that problem on a commercial level, MobileMasr offers the transparency and security that was lacking in the online used phone space,” Wael El Ashry, Founder and CEO of MobileMasr, said.
Wael El Ashry launched MobileMasr in 2021 as a high-tech e-commerce platform focused to the selling of old and new mobile phones and tablets, as well as a variety of supporting services. The portal provides a variety of payment options as well as countrywide shipping.
MobileMasr
Charles Rapulu Udoh
Charles Rapulu Udoh is a Lagos-based lawyer, who has several years of experience working in Africa’s burgeoning tech startup industry. He has closed multi-million dollar deals bordering on venture capital, private equity, intellectual property (trademark, patent or design, etc.), mergers and acquisitions, in countries such as in the Delaware, New York, UK, Singapore, British Virgin Islands, South Africa, Nigeria etc. He’s also a corporate governance and cross-border data privacy and tax expert.
As an award-winning writer and researcher, he is passionate about telling the African startup story, and is one of the continent’s pioneers in this regard