Tuesday 31 of January, 2023
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Egyptian E-Commerce Platform SideUp Raises $1.2 Million Seed Round

With these new funds, SideUp will move its headquarters from Egypt to Saudi Arabia, with plans to expand in both countries.

Startup Scene

SideUp, an Egypt-based e-commerce service provider, has raised a $1.2 million seed round from global and regional investors including Launch Africa VC, 500 Global, Riyadh Angels, Alex Angels, Al Tuwaijri Fund, and Saudi angel investor Faisal AlAbdulsalam.

Founded in 2019 by Waleed Rashed, SideUp (previously known as VOO) provides e-commerce business owners with payment gateways, API integration, warehousing, fulfillment, and advisory from one platform, allowing business owners to focus on their core operations.

“Online businesses are shaping the future of our economy but they continue to face a number of challenges which limit their growth potential,” Waleed Rashed, Founder & CEO of SideUp, tells StartupScene. “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.”

The platform enables merchants to operate across 45 countries, accessing new markets and reaching new audiences beyond their borders. To date, the startup has partnered with several e-commerce platforms, payment service providers, and logistics providers including Zid, Zammit, Paytab, Paymob, Aramex and iMile.

With its newly secured fund, SideUp is moving its headquarters from Egypt to Riyadh, and plans to expand its presence in both countries while also developing a new range of solutions for customers.