Sharwa, social commerce platform, raised $2m in a pre-seed funding round. The round was co-led by Nuwa Capital and Hambro Perks Oryx Fund and joined by several strategic angel investors.
Sharwa’s platform allows customers to get the best prices for their daily purchases on household essentials like groceries, appliances and homecare.
Customers can club their baskets into a group order and place them through Sharwa using WhatsApp or directly on the app, unlocking wholesale prices from manufacturers for next day delivery.
Founded in 2022 by Alaa Shalaby, Hassan El Shourbagi and Mohamed Hanafy, Sharwa aims to address the gap between the large number of social media users and the low levels of ecommerce adoption in Egypt.
The startup will use the funds on continued development of their technology platform and on expanding the team.
“We empower local manufacturers to reach as many customers as possible in a data-driven way, with the goal of achieving the most streamlined supply chain. We have built an end-to-end value chain sourcing from manufacturers and delivering to customers, letting manufacturers focus on what they do best,” Hassan El Shourbagi, Chief Operating Officer, said.
Read more: Produze, UAE-based agritech B2B marketplace, raised $2.6m in a seed funding round
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