Egyptian SaaS e-commerce startup Awfar has secured six-figure US dollar funding from Saudi Arabia-based venture studio Value Maker Studio (VMS) to expand its presence in the latter country. VMS, meanwhile, is a venture studio that brings together a diverse range of talents, resources, and ideas to transform innovative concepts into thriving businesses. The company is launching its “Bridge Programme” early next year, to help Egyptian tech startups seamlessly expand to Saudi Arabia. It is through this that it has invested a six-figure sum in Awfar, while Disrupt Africa reported last month it had invested in Egyptian ed-tech startup OBM Education under the same programme. In less than a month, we were able to secure contracts and establish partnerships with major chains in Saudi Arabia,” said Galal.
