Egypt’s Mobile Masr Raises USD 500 K Seed Round

Egypt-based e-commerce platform Mobile Masr has raised a USD 500 K seed round from a group of angel investors based in the UAE and Qatar, in partnership with Intercap Capital Investment Bank. The startup plans to use the funds to scale its operations while expanding to new business categories and verticals.

MobileMasr was founded in 2021 by Wael El Ashry, as a deep-tech e-commerce marketplace dedicated to the sale of used and new mobile phones and tablets with a host of supporting services. The platform offers various payment solutions and nationwide shipping.