Egyptian Voo Rebrands to SideUp After $1.2m Seed Funding
Dec 7, 2022
Enrich Africa
2 minute(s) Read
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Top Egyptian-based marketplace for logistics services, Voo, has rebranded its name to SideUp after raising $1.2 million in seed funding.


The four-year-old startup also changed its business model to provide a 360-degree model that caters to a full range of e-commerce support services. Payment gateways, API integration for shipping, warehousing, fulfilment, and advisory are among the services offered.


The seed funding round was led by Launch Africa VC, 500 Global, Riyadh Angels, Alex Angels, the Al Tuwaijri Fund, and Saudi angel investor Faisal AlAbdulsalam. SideUp has since expanded to Saudi Arabia, where it will be headquartered.


Waleed Rashed, the founder, and CEO of SideUp, disclosed that he was motivated to connect small retailers with e-commerce assistance after seeing that big service providers disregarded them.


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Rashed also pointed out that, despite much discussion about how e-commerce is growing, we are not doing enough to support the micro, small, and medium-sized businesses (MSMEs) engaged in online sales. For companies to succeed, a robust ecosystem and a variety of services are required.


“For this reason, I made the decision to support small and medium-sized businesses; SideUp is for village traders or those who sell goods via Instagram, Facebook, or WhatsApp. He claimed they have access to every service, including marketing services, warehousing and fulfillment, and courier services. Over the course of the four years, I learned a lot about operations, logistics, and e-commerce. I observed how big logistics companies did not prioritise small businesses because of their low volume,” said Rashed.


Dec 7, 2022
Enrich Africa
2 minute(s) Read
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Voo
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