Egypt’s Gooo Delivery Looks to Expand Across MENA After Pre-Seed Round
Founded in 2020, the startup has made strides in its delivery of food, groceries and medication, but faces plenty of competition in a competitive sector.
Egyptian on-demand delivery startup, Gooo Delivery, has announced its intention to expand its footprint across Egypt and the region, after raising an undisclosed pre-seed round.
Founded by Yasser Hassan in 2020, the app offers point-to-point delivery of food, medication and groceries, pitting it against some of the country’s top startups, including the likes of Rabbit and Appetitio, as well as healthtech startups such as Chefaa and Yodawy.
“There is fierce competition in the domain of order delivery, yet we know that Gooo has more to offer than just food delivery, we deliver groceries, vegetables and much more,” said Hassan. “Gooo has a great understanding of the local market, and that’s why our platform development is different. The success factors for the current stage are the development of our technical capabilities, team development and integration, to leverage more on the client trust we have gained so far and reach our target goals.”
Egypt’s e-commerce sector generated an estimated $5 billion in revenue last year, a figure that is expected to grow in the coming years as the sector is predicted to experience a 22% CAG. Across the region, ecommerce has proven to be amongst the most prolific sectors, too, second only to fintech. Between 2020 and 2021, the sector saw a 235% YoY increase in capital invested.
In addition to Gooo Delivery’s expansion plans across Egypt and the region, the startup’s funding will also be channelled into developing its technical capabilities and updates in their services.