$1.2 M Seed funding raised by Egyptian e-commerce startup SIDEUP for Saudi expansion

SIDEUP, an Egyptian company that offers a range of services for e-commerce enterprises, has received US $1.2 million in early capital from local and international investors to support its Saudi Arabian expansion.

SIDEUP, which was introduced in 2019, equips owners of e-commerce businesses with a range of technological solutions that facilitate collaborations, integrations, scaling, and revenue growth. When it was known as VOO, it ran one of the top logistical markets in the area.

SIDEUP offers a variety of services with the goal of streamlining the e-commerce sector while freeing up business owners to concentrate on their primary activities. Businesses may access payment gateways, and API connectivity for shipping, storage, fulfillment, and consulting from a single platform thanks to a platform designed to address issues facing the e-commerce industry.

SIDEUP now provides services to more than 2,000 e-commerce companies and has a GMV of over US $500,000 per month, expanding at a rate of 30% per month.

Leading international and regional investors, including Launch Africa Ventures, 500 Global, Riyadh Angels, Alex Angels, Al Tuwaijri Fund, and Saudi angel investor Faisal AlAbdulsalam, participated in its US $1.2 million seed round.

Over the next 12 months, the business will use its investment funds to expand its operations in Saudi Arabia, strengthen its position in Egypt, and continue to build a new set of client solutions. SIDEUP will shift its headquarters to Riyadh as part of its aspirations for Saudi Arabia, and it will fill a number of new positions there.

“Online businesses are shaping the future of our economy but they continue to face a number of challenges which limit their growth potential. At SIDEUP, our platform connects merchants with a range of services from industry leaders, allowing them to focus on growing revenues while we take care of the rest. Today we are excited to enter a new phase of growth as we plan to take SIDEUP to new markets including the launch of our Saudi Arabia office. With the backing of our investors, we are well positioned to transform the e-commerce industry across the Middle East and Africa,” said Waleed Rashed, founder, and CEO of SIDEUP.

“We are excited to back SIDEUP, a company that is transforming the e-commerce industry across the entire region by connecting business owners to world-class services and partners. Their progress so far has been inspiring and is a true example of how technology is solving challenges that are unique to our region. VOO has a robust product and a talented team across the business. We are thrilled to be joining them on their journey as they venture into new markets,” said Mohamed Karar, venture partner at Launch Africa Ventures.