MobileMasr, Egypt-based e-Commerce Startup Secures $500,000 for Growth
MobileMasr, an e-commerce platform established in Egypt, has partnered with Intercap Capital Investment Bank to raise $500,000 in a seed round from a group of angel investors in the media and telecom sectors in the UAE and Qatar.
Mobile Masr, a marketplace for old gadgets and mobile phones with a variety of payment options and nationwide delivery, was established in 2021 by Wael El Ashry.
“The largest obstacle to purchasing secondhand phones online is a lack of trust. MobileMasr provides the transparency and security that were absent in the online used phone arena, according to Wael El Ashry, founder and CEO of MobileMasr. We did this by creating and building mobile diagnostics software that tests and reports on the phone.
The money will be used to expand by introducing new cutting-edge goods and services and to further reinforce MobileMasr’s position as an online store that specializes in the sale of used mobile phones and tablets.
Wael El Ashry launched MobileMasr in 2021 as a high-tech online marketplace for the selling of both new and old mobile phones, tablets, and a variety of ancillary services. The portal provides a range of payment options as well as nationwide shipping.
