Investments

Cairo-based on-demand mobile repair startup iFix raises six-figure investment, launches ecommerce platform for used phones

iFix, an Egyptian startup that provides on-demand mobile phone repair services to individuals and businesses at their doorstep has raised six-figure investment from A15, the MENA-based investment firm announced today in a statement to MENAbytes, without disclosing the exact size of investment.

The investment, according to the statement, will primarily be used for Gadded, a just-launched ecommerce platform that allows users to buy and sell used mobile phones.

The sellers receive an instant valuation and (what Gadded calls) a fair price without negotiating it, safe data removal, and instant payment. The buyers, on the other hand, get to buy refurbished phones that are up to 50% cheaper (compared to original sticker price) and come with one year warranty (and tech support) by iFix, payment plans based on installments, and phone insurance.

Founded in 2016 by Mohamed Fayez and Omar Galal, iFix claims to have over completed over 50,000 phone repairs (iPhone, iPads, and Samsungs) since its launch. It is not clear if the maintenance technicians are employed by iFix or are freelancers but their website notes that “all iFixers (technicians) go through professional training and certifications before starting their professional career with iFix”.

Gadded now plans to use iFix’s know-how and team to help people buy and sell used phones without going through the usual troubles associated with purchasing a used/refurbished phone.

Mohamed Fayez, the co-founder and Chairman of iFix, said, “Phones have become such an integral part of our everyday life, it’s almost like they have become part of our DNA. That is why we are excited about this investment and expansion as we continue to make the tech gadgets and phones more accessible to the Egyptian consumer.”

Fadi Anataki, A15’s CEO said, “Nearly 70% of online shoppers in the GCC and Egypt have bought electronics online at least once. Hence, the market is a ripe space for Gadded’s novel value proposition and its unique add-ons.”

Zubair Naeem Paracha

Zubair Naeem Paracha

Founder at MENAbytes
A tech and startup enthusiast based in Riyadh. Zubair apart from leading MENAbytes is also building Qraar, a career discovery and development platform for millennials in MENA. He can be reached on Linkedin, Twitter or zubair [at] menabytes [dot] com.
Zubair Naeem Paracha

MENAbytes covers tech and digital media stories from Middle East North Africa

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