Cairo-based startup Shiphaly has raised an undisclosed 6-figure sum round from angel investors in Egypt and Saudi Arabia. The round was led by Purity’s founder Faisal Abdulsalam who is a founder and active investor in the region alongside other renowned angel investors.
Shiphaly launched in 2019 as a mobile app and marketplace that connects shoppers looking to buy products with travelers abroad willing to buy and deliver those products in return for cash rewards. In 2019 the Cairo startup went through acceleration and received seed funding at Flat6Labs in Cairo.
The online marketplace allows shoppers to buy their favorite products overseas in a safe, secure, and affordable way. Shiphaly capitalizes on its unique selling point around unused luggage space subsidizing the costs of the trip.
Shiphaly’s business faces significant challenges from the travel bans resulting from the global pandemic. However, the second half of 2020 saw a stronger resurgence creating momentum that boosted the in the second half of 2021 driven by heavy demand from shoppers unable to travel overseas. At the start of 2021, Shiphaly enjoyed a 25% month-over-month growth in orders delivered with over 15000 orders posted valued at $2 million.
Shiphaly’s CEO Kahled Elabd commenting on the round as “a group of top-notch angel investors.” The company’s CCO Hisham Elshaer has expressed also excitement about the next phase of growth.