Egypt-Based Fintech Waffarha Secures Seven-Figure Seed Round

Saudi Venture Studio (VMS) proudly announces its investment with Waffarha.com, an Egyptian premier group-buying website, and mobile app. The new funds will be deployed to double down Waffarha’s technology stack, hiring new talent and expanding its footprint into Saudi Arabia and beyond.

Founded in 2012 by Tarek Magdy, Waffarha’s platform offers daily deals with big discounts starting from 50% up to 90%. The platform boasts a vast network of over 1,000 merchants and over 3,000 stores that cater to all the necessities and luxuries of life for more than 5 million customers(reportedly), without any subscription fees.