Sharwa, an Egyptian startup company, has just announced the debut of its smartphone application, which it says is the first social commerce app in the Middle East. The company obtained a seed funding round of $2 million in the United States.
Sharwa was established at the beginning of this year by Alaa Shalaby, Hassan Elshourbagi, and Mohamed Hanafy. The company provides customers with low prices on approximately 1,000 different grocery, appliance, and household items, in addition to offering huge discounts on bulk orders and offering delivery the next day delivery.
Sharwa’s platform is the real-life version of the idea of a sharing economy since everyone needs to find the easiest and cheapest way to get the things they need for their homes. “Our platform’s shared online shopping experience is the best way to do this,” said Shalaby.
After closing a US$2 million seed funding round from Nuwa Capital, Hambro Perks Oryx Fund, and other investors, the startup released its app. Elshourbagi said that after starting in Cairo, the company was working on putting its plan for growth into action in other governorates in Egypt.