Shiphaly, the Cairo-based startup connecting shoppers and travelers, has raised an undisclosed six-figure round from angel investors in Saudi Arabia and Egypt. The round is led by Faisal Abdulsalam, an active investor in Saudi Arabia and Egypt, with the participation of well-known angel investors in Saudi Arabia.
Shiphaly is a mobile app and marketplace connecting shoppers who want to buy products from abroad with travelers who can buy and deliver the products in return for a cash reward. The startup allows shoppers to buy their favorite products from abroad in a safe, secure, and affordable way while allowing travelers to make extra cash from their unused luggage space to subsidize their trip costs.
The online marketplace plans to use the new investment to expand its stores to Africa and other countries in the Middle East and launching new product features.