After four years operating primarily as a logistics marketplace, Egypt's Voo has rebranded to SideUp and transformed its strategy to offer a complete spectrum of e- commerce support services.
After raising seed funding, the startup has expanded to Saudi Arabia. The latest round included Launch Africa VC, 500 Global, Riyadh Angels, Alex Angels, Al Tuwaijri Fund and Saudi angel investor.
Waleed said he was inspired to link small merchants to e- commerce support after he realized they were ignored by large service providers.
We are not empowering enough of the small and medium businesses that are selling online. Merchants need a lot of services and a lot of things to succeed.
SideUp is for the merchants in the village, or those who sell products on social media. He said they get access to all the services from the beginning.
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After working in banking for many years, he decided to start his own business in 2012 when he founded an errand company called Ingez.
I understand a lot of things about operations and logistics. The founder of SideUp said that he saw how small businesses were not a priority for big logistics companies.
There is growth.
SideUp partners allow merchants to sell in 45 countries, which has opened up new markets for small businesses.
SideUp provides cash collection service and credit to expand the businesses of 2,000 e-commerce businesses. The portfolio has grown by 30% in the last month.
There are a number of challenges for business owners when it comes to online commerce. SideUp gives them a single place to access partners and technology to grow their businesses vastly. They are coming to Saudi Arabia to support businesses.
In order to tap the burgeoning e- commerce sector in different regions, the startup plans to expand to at least two other countries before the end of the year.
The Middle-East and Africa e-commerce markets are set to grow above 11.5% in the next five years as more businesses embrace e- commerce, according to a report.
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