Convertedin, an e-commerce marketing operating system developed by an Egyptian company, has acquired $3 million in initial investment to support its growth in the MENA and Latin America regions.
The purpose of Convertedin is to provide brands and companies with a single platform to run customized and scalable campaigns, convert customers, get quantifiable results, and increase revenue. In Africa, the Middle East, and South America, the firm collaborates with regional and global businesses.
“As SMBs around the world build e-commerce services, they need the right tools to convert customers and generate revenue. With Convertedin, brands no longer need expensive and complex infrastructure for data-centric marketing. We have built a marketing operating system, which today is the preferred choice for hundreds of local and international brands. Today, Convertedin is a business with strong fundamentals, and we are honoured to partner with leading global investors as we embark on our next phase of growth,” said Mohamed Fergany, CEO and co-founder of Convertedin.
Merak Capital, a Saudi Arabia-based investment firm, spearheaded the $3 million fundraising round, which also included 500 Global and MSAS. Convertedin will set a shop in Rio de Janeiro, Brazil, as part of its development plans, becoming the company’s first office in South America. The business now offers services in Arabic and English in addition to other languages, and it will shortly include Portuguese services as well. Convertedin will also use the funding for smart recruiting and platform development.
“As e-commerce businesses become increasingly prevalent, they often lack the capabilities to leverage data for customer acquisition to drive topline growth. The ever-changing landscape of digital marketing platforms adds a new layer of challenges for e-commerce companies,” said Ahmed Aljibreen, partner at Merak Capital.
“For that and more, we are excited to back Convertedin, a marketing tech company that has built a state-of-the-art platform to simplify digital marketing, improve customer acquisition and drive growth for its clients. Convertedin is led by a world-class team in which we have tremendous confidence as the company embarks on its next stage of growth in MENA and Latin America.”