Cairo-based home services marketplace FilKhedma has just raised seed investment from country’s top VC Algebra Ventures, and Glint Consulting, a management consulting and investment firm Glint Consulting.
Founded in 2014 by Omar Ramadan, FilKhedma is a marketplace for home maintenance and home improvement services. Customers can use their website to request nine different types of services including including plumbing, carpentry, electrical installations & maintenance, painting, and more. They currently have more than twenty technicians and partners providing these services to their customers with a repeat order rate greater than 75%.
The startup that currently has 14 people working out it’s Cairo office, had previously raised EGP 1 million ($56,710) as angel investment from Khalid Ismail of KiAngels, Omar told MENAbytes.
“We are happy to welcome Algebra Ventures and Glint as partners in our vision to solve Egypt’s daily pain with home services. Our growing team is now working hard to revamp our technology and offer a seamless customer experience in what has always been a messy process in Egypt,” said Omar Ramadan, FilKhedma’s founder. “We are planning to use the investment to build apps for service providers and customers as well as robust technology for the marketplace and operations dashboards, spend on marketing and attract great talent to our software development, marketing and operations teams.”
“We are excited to support Filkhedma in this new growth phase. We believe technology will add significant efficiency to the home services market and Filkhedma is the best positioned player to lead the creation of that value. We were impressed by the vision of the company and the execution capabilities of the management team. We look forward to continuing to support the company in the future.” said Tarek Assaad, Managing Partner at Algebra Ventures
“We believe that Filkhedma is disrupting the home services market in Egypt by connecting households and businesses with reliable, high quality professional technicians through the use of technology. We are excited about this investment that would help address the needs of households and businesses, reinvent the service culture and create more employment and additional income opportunities for service providers.” said Irini Raafat, Co-Founder and Associate Partner at Glint Consulting
The startup did not disclose the amount of investment.
Latest posts by MB Staff (see all)
- Dubai’s The Luxury Closet close its growth round with $11 million, acquires Hong Kong-based Guiltless - May 19, 2019
- Jordanian edtech startup Little Thinking Minds raises $500,000 to close its Series A with ~$1.8 million - May 19, 2019
- Saudi permanent residency permit ‘Special Privilege Iqama’ to cost over $210,000, renewable temporary iqama to have ~$27,000 annual fee: report - May 18, 2019