In its latest fundraiser, Egyptian-based technology startup Entlaqa has raised up to $300,000 from two Saudi investors, Mohamed ben Saleh Ba Wazier and Salem ben Saleh Ba Wazier. With the successful completion of this latest round, Entlaqa is now valued at a million dollar.
For those of you who don’t know, Entlaqa was founded in 2013 as a software company offering services to enterprises. Over the years, the company has gradually migrated to the SaaS (Software as a Service) model and now claims to be a leading venture builder for SaaS products in Egypt.
Entlaqa’s SaaS portfolio is fast expanding, with some products already available in the market while others still in the development stage. The first SaaS product released by the company was Attend Zone, which is an attendance system for enterprises that HR teams can use to record and track attendance of their employees.
Attend Zone enables users to check-in and check-out using a dedicated Android or iOS app. It then uses GPS to locate the area where the user logged in from for future records and analytics. Employers can designate different locations as authorized zones where employees can check-in and check-out from.
In addition to SaaS products, Entlaqa is also in the process of developing some in-house enterprise products. As for the new funding round, the company says that it plans on using the fund raised to continue boosting their SaaS portfolio while simultaneously marketing them worldwide.
“We will be using the money to complete the development of our SaaS products, and create web portals for each product to be sold worldwide directly through our websites. Also, we will use the money to fuel our marketing efforts and reach markets all around the world,” said Ahmed Ashoor, Founder, and CEO of Entlaqa.