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Odiggo Secures $600, 000 Seed Funding

News

Startups

Feb. 2, 2021, 8:26 a.m.

Odiggo, an Eggyptian digital marketplace for automotive parts, has received $600, 000 from Essa Al-Saleh, former Chief Executive Officer CEO of the billion-dollar logistics company Agility Logistics and current Chairman of Volta Trucks and CEO of Switzerland-based advisory and investment firm Agitero AG, in a seed funding round.

Founded in 2017 by Ahmed Omar and Ahmed Nasser, Odiggo is an eCommerce platform that connects customers with established car parts and services suppliers all around Egypt. The startup makes money by charging 7 to 22 percent commission on every order made through their website or mobile app.

The duo stated that they plan on using the investment to scale their operations in the Middle East;“We’re working on bringing in the best team in the Middle East to help us gain the highest market share in what is a scattered trillion-dollar industry”.

“We want to enhance our unit economics, empower our product-market fit and reach millions of car owners per month. Our product isn’t yet finished or complete enough for us to reach the highest conversion rates. That’s why we will invest more in operations, support, and, of course, product,” co-founders Ahmed Omar and Ahmed Nasser said.

Odiggo is also currently raising a new round to accelerate its development and build more channels for ease of accessibility to its marketplace for users.

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Dorcas

Dorcas Benewaa Author

Dorcas is an upcoming journalist. She loves the creative arts and loves to write about startups, digital arts and issues in the tech sector.

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