Odiggo’s reputation as one of Egypt’s foremost destinations for quality and reasonably priced auto parts got a new boost after the startups bagged $180K in seed funding from Saudi-based angel investor Saeed Al Jaberi.
With this new development, the rapidly growing online e-marketplace has reached $1.25 million valuation.
Odiggo was officially launched in Jan 2018 by co-founders Wissam Saleh, Ahmed Omar, and Khalid Omar. In just a year since its debut, the company has come a long distance towards fulfilling its core objective — to make buying auto spare parts as simple as buying a new t-shirt online.
Available as website and mobile app, Odiggo’s online platform currently supplies to customers across Egypt and beyond.
“With a few clicks, we can help people find their car parts and get them delivered to their service centers or their homes,” the startup stated in a conversation with MENABytes.
Ahmed Omar, one of the co-founders and CEO at Odiggo noted the new funding will help the company expand its footprint in Saudi Arabia, which happens to be one of its key target markets with the highest conversion rate.
“We’ll be using the investment to launch in Saudi Arabia as the traffic from there has the best conversion rate on our platform. We’ll also be using it to expand our team, grow our technical infrastructure to make it more scalable and reliable for the users, and for customer acquisition and marketing,” he added.
Odiggo has so far processed more than 14,000 transactions which collectively account for sales worth roughly $170,000.