Saudi Venture Studio (VMS) announced its investment in Waffarha.com, the leading group-buying website and mobile app in Egypt. Waffarha, which comes from a beloved local phrase that means “Save it,” is well-known for its dedication to providing outstanding discounts to online shoppers via daily specials that offer reductions of up to 90%.
Apart from aiding Waffarha.com’s entry into Saudi Arabia, the collaboration with VMS will allow the platform to improve its promotional activities, guaranteeing extensive recognition and interaction among Saudi customers. By means of focused marketing campaigns and calculated moves, Waffarha.com hopes to become the preferred choice for astute consumers looking for the best offers and most exceptional discounts.
In the A.R.E., Tarek Magdy and Noha Hamdy founded Waffarha. Established in October 2012, this is the leading online lifestyle platform that provides customers with coupons at a discounted price for a variety of industries, such as food and beverage, entertainment, health and beauty, hotels & resorts, and more. With no membership costs, the platform offers over 5 million users access to a wide network of more than 3,000 stores and over 1,000 merchants who provide all the needs and indulgences of life. Waffarha is a premier lifestyle website and mobile app that has grown over the past 12 years.
In 2018, Fawry for Banking Technology and Electronic Payments showed interest in the Waffarha enterprise and procured a thirty percent stake in the business.
By introducing fresh features like bill payment, which lets customers buy vouchers and pay all of their bills online on one platform, Waffarha hopes to broaden its customer base. Accepting cards, installing (banking & non-banking), and mobile wallets (banking & operators) are among the +10 payment methods that are used.
Furthermore, Waffarha launched an innovative business case dubbed “Offers Marketplace Aggregation Service,” which permits other clients to buy vouchers at a discount and use them to pay for products across a variety of applications.
Additionally, Waffarha offers major partners and vendors in a variety of industries, including banks, automobiles, telecom, FMCG, and more, a B2B line that offers clever white-label loyalty solutions. Instant reward campaigns and long-term point accumulation and redemption are two ways this service guarantees customer satisfaction and retention.
