Egyptian Startup FriendyM Raises USD 2 M Investment

Egypt-based autotech FriendyM, has raised a USD 2 M investment from undisclosed investors. FriendyM, which is already operational in Saudi Arabia, the UAE, Cairo, and Alexandria, will use the new cash influx to extend its services to all governorates across Egypt.

FriendyM offers, through its platform, several car services like maintenance, tracking car expenses, and concierge services, among others. The application allows all invoices to be attached to the user’s account and also provides an expense analysis service to indicate the most expensive items, which helps in managing expenses and rationalizing expenses.

The “FriendyM” application is also working to launch the Lite and elite concierge services soon with monthly fees to provide distinctive services. Subscription to the Elite concierge service allows the service of requesting relief vehicles in emergency situations and car replacement services in the event that its maintenance takes several days.