Fawry Invests In Sudan-based Classifieds Marketplace Alsoug.com

Fawry, one of Egypt’s leading providers of e-payments solutions and digital banking services, has acquired a minority stake in the Sudan-based classifieds marketplace Alsoug.com after investing in the company’s recent USD 5 Mn round, marking its first foray outside of its home market. AlSoug is the first-ever Sudanese startup to have raised a VC round.

AlSoug is a D2C marketplace where users can list everything from real estate and cars to services and commodities for direct sale. As a strategic investor in alsoug, Fawry intends to leverage its long track record with white label technology solutions to help the platform expand in scale, enhancing the platform’s merchant acquisition operation, refining its go-to-market approach, and providing valuable insights that inform high-level strategy across all segments of the business.