The Middle East’s first social commerce platform, according to the Egyptian firm Sharwa, has acquired $2 million in seed investment for its upcoming mobile app.
Alaa Shalaby, Hassan Elshourbagi, and Mohamed Hanafy founded Sharwa earlier this year. Sharwa offers clients affordable pricing on about 1,000 groceries, appliances, and home products, with significant savings available on bulk purchases and next-day delivery options.
“Sharwa’s platform is the true translation of the idea of the sharing economy, as the reality now requires everyone to search for the easiest and cheapest way to get the needs of their home, which can be achieved through the shared online shopping experience offered by our platform,” said Shalaby.
After receiving US $2 million in venture investment from Nuwa Capital, Hambro Perks Oryx Fund, and other investors, the firm released its app. Elshourbagi claimed that after beginning in Cairo, the business was now putting its development strategy into practice in several governorates around Egypt.
