VOO, a Cairo-based on-demand delivery startup has raised seed investment from newly fromed angel investment network, Alex Angels. Co-founded by Waleed Rashed & Malik Tag, VOO helps people deliver anything using their crowd-sourced network of couriers. The startup is yet to roll out its applications to public but has been testing a private beta for some time now and plans to roll out its consumer-to-consumer delivery app later this month. When launched, its services will be available in Cairo and Giza.
VOO currently has 400 active couriers on their platform and hopes to take this number to 4,000 by the end of 2018, their co-founder and CEO Waleed Rashed told MENAbytes.
“VOO has so many prospects to transform almost every segment of the economy, including revolutionizing the social side of services. Waleed & team have the right experience, exposure & operations’ stamina to set the highest goals and achieve them. The team already developed traction from the who’s-who in the ecosystem, and a very impressive list of clients and partnerships is already in the making,” said Loay El Shawarby, representing Alex Angels.
VOO currently has a team of seven employees based in Cairo, the startup hope to grow this number to 30 in 2018.
“We’re launching our first product this month – a consumer-to-consumer delivery app. We plan to use the investment to grow our team and making improvements to existing product to ensure great experience for our users. A part of investment will also go into marketing specially acuqiring customers. The investment by Alex Angels will hopefully help us in scaling after the initial launch.” said Waleed, speaking to MENAbytes.
This is Alex Angels’ first investment who aim to continue investing in high potential entrepreneurs and startup from Egypt and the Mediterranean. The size of investment was not disclosed but it was made in exchange of 10% of the equity in company.
Latest posts by MB Staff (see all)
- Rush Brush witnesses increased consumer demand during pandemic - September 21, 2020
- Saudi angel groups Riyadh Angels and Najd Angels announce merger - September 14, 2020
- Kuwait’s Boutiqaat looking to raise fresh funds at a valuation of up to $1 billion: report - June 25, 2020