Egyptian E-commerce Startup Shiphaly Secures Six-figure Funding From Angel Investors

Egyptian E-commerce Startup Shiphaly Secures Six-figure Funding From Angel Investors

Cairo-based e-commerce startup Shiphaly, which connects shoppers and travelers, has announced it raised undisclosed six-figure amounts from Saudi Arabian and Egyptian angel investors.

The round was led by Faisal Abdulsalam, the creator of Purity and an angel investor in Saudi Arabia and Egypt.

Shiphaly is an e-commerce startup founded in 2019 by Khaled Elabd, Hisham Elshaer, Ibrahim Sabek, and Nader Nabil. The startup’s marketplace platform connects shoppers who want to buy products from abroad with travelers who can buy and deliver the products in exchange for a cash reward.

Shiphaly offers shoppers a unique selling feature that is safe and secured for both travelers and shoppers and also offers a 100% money-back guarantee in the event of any problems with their order.

Hisham Elshaer, CCO of Shiphaly speaking on the funding said that the startup believes there is huge potential in the Middle East.

“We believe there is huge potential in the Egyptian market as well as other markets in Africa and the Middle East. We are very excited about the next phase of growth for Shiphaly and are gearing up to launch new features very soon to solve more and more of our customers’ problems” Hisham said.

Kahled Elabd, CEO of Shiphaly also added that: “We are very proud of the traction that Shiphaly has had over the past months. We are also very happy and privileged to have a group of top-notch angel investors backing us in our journey to transform the way people shop from abroad in Egypt and other future markets”.

Although Shiphaly’s business has experienced certain obstacles in the first half of 2020 as a result of various Covid travel prohibitions around the world. It grew even more in the second half of 2020 and the early part of 2021, owing to significant demand from shoppers who are unable to go internationally. Shiphaly has seen a 25% month-over-month increase in delivered orders, as well as over 15,000 posted orders worth over $2 million, since the beginning of 2021.

“We are very excited about Shiphaly and we believe that Shiphaly offers a unique idea to solve an issue in many countries in the Middle East,” said Faisal Abdulsalam, the lead of this round.

“Shipahly’s unique team offers the technical and commercial depth and experience to ensure the success of the company. We strongly believe that Shiphaly has the potential to grow exponentially in many markets with the advantage of having a low cost of entry to different markets being an e-marketplace” Faisal said.

Shipahly intends to use the new funding to expand the online marketplace’s storefronts to Africa and other Middle Eastern nations, as well as to introduce new product features.