Egypt-based SaaS ecommerce startup, Awfar, recently secured a substantial six-figure investment from Saudi Arabia-based venture studio Value Maker Studio (VMS). The investment was made to support Awfar’s expansion efforts in Egypt. Founded in 2020 by Abdelrahman Galal, Awfar provides comprehensive technology solutions for retail businesses. Their offerings include cloud-based services, point of sale (POS) systems, commercial and operational reporting, and delivery management solutions. What sets Awfar apart is its integration with retail aggregators, third-party logistics providers, and analytics and marketing capabilities.

Value Maker Studio (VMS) has devised a strategic plan known as the “Bridge Programme,” set to launch early next year. This program aims to assist Egyptian tech startups in smoothly expanding their operations into the Saudi Arabian market. Collaborating with various partners, including the Arab Academy for Science and Technology and Maritime Transport, the Egyptian Federation of Chambers of Commerce, the General Division for Digital and Technology Economy, Adventurers, Cash Cow, U Youth, and FALAK, VMS will offer a three-day intensive training and mentorship program. This program will equip participants with insights into the Saudi market, its investment landscape, customer behavior, and market entry processes.

Why the Investors Invested

Investors decided to back Awfar for several compelling reasons. Firstly, Awfar’s innovative approach to providing integrated technology solutions for retail businesses has already proven successful in Egypt and the wider MENA region. The company’s track record demonstrates their ability to drive growth and enhance the performance of retail businesses. By investing in Awfar, Value Maker Studio (VMS) recognized an opportunity to capitalize on this success and leverage it for further expansion into the lucrative Saudi Arabian market.

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Moreover, Saudi Arabia is a rapidly growing market with a burgeoning demand for modern e-commerce and retail technology solutions. The partnership between Awfar and VMS comes at an opportune time, aligning with the Saudi government’s push for digital transformation and economic diversification. By supporting Awfar’s expansion into Saudi Arabia, investors can tap into this promising market and secure a strategic foothold.

The “Bridge Programme” introduced by VMS not only reflects their commitment to fostering startup success but also addresses the challenges that Awfar and other startups face when entering the Saudi market. By offering financial support, mentorship, and essential connections, VMS provides a comprehensive solution to these challenges, making the investment in Awfar a strategic move with long-term potential for investors.

 A Look at Awfar

Awfar, founded in 2020 by Abdelrahman Galal, has quickly become a leading SaaS e-commerce startup in Egypt. The company specializes in delivering fully integrated technology solutions for retail businesses. Their suite of services includes cloud-based solutions, point of sale (POS) systems, commercial and operational reporting, and delivery management tools. Notably, Awfar stands out due to its seamless integration with retail aggregators, third-party logistics providers, and comprehensive analytics and marketing capabilities.

The startup’s primary markets are in Egypt and the wider MENA region, but with the backing of VMS and their “Bridge Programme,” Awfar aims to expand its presence into the promising Saudi Arabian market. This move is strategically aligned with the growing demand for modern retail technology solutions in Saudi Arabia and the government’s focus on digital transformation.

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Awfar’s partnership with VMS and its participation in the “Bridge Programme” mark a significant milestone in the company’s journey, enabling them to overcome challenges associated with market entry. This partnership empowers Awfar to secure contracts and establish partnerships with major retail chains in Saudi Arabia, further solidifying their position as a key player in the region’s e-commerce landscape.

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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