Egyptian startup Convertedin raises $3M, caters to e-commerce brands in MENA and Latin America

Convertedin raised $3 million in a seed round led by Saudi Arabia-based Merak Capital.

500 Global is one of the investors. The funds will be used for strategic hiring and further development of the platform.

When brands shift to e-commerce sales, they have a lot of fragmented data that needs to be unified to make better decisions. Convertedin is an essential platform because it caters to brands and businesses with one, some, or all of these objectives: grow revenue, convert customers, and achieve measurable results.

After working with several brands, the CEO founded the company with two other people. His time as an employee gave him the chance to help offline stores retarget and retain their customers while finding new ones to shop at their stores offline.

They will take your phone number away if you walk into ikea. After that, our engine tries to find a similar product that you can buy online. The cost of online conversion can be calculated if you return to ikea for that product. This was the main idea at this time, as we saw a huge problem where there wasn't an analytic platform for the offline store.

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Fergany claims that online brands don't use most of the software that gathers data They offer a solution where they can use their data best.

The platform Convertedin uses increases the return on ad spend by 2x and reduces customer acquisition costs by 40%. Over 100 local and multinational brands are working with the company in the automotive, healthcare and technology industries. Fergany said Convertedin's revenues from these businesses have been growing in double digits.

In addition to Egypt, the company has offices in Saudi Arabia and Brazil. The e- commerce market in South America is expected to reach over 200 million users by the end of the century. Convertedin will make its services available in both English and Arabic for brands in Brazil and Mexico. Convertedin is looking at South Africa and India as well.

The CEO said that the company could sell easily in emerging markets because of low competition. Customer acquisition cost is low in the U.S. Convertedin will benefit from the new investment.

The ever-changing landscape of digital marketing platforms adds a new layer of challenges for e-commerce companies, according to the partner at Merak Capital. The firm was supported by Merak Capital. Convertedin is a martech company that has built a state-of-the-art platform to simplify digital marketing and improve customer acquisition. Convertedin is led by a world-class team that we have tremendous confidence in as they embark on their next stage of growth.