An Egyptian firm, SIDEUP, which provides e-commerce solutions tobsmall businesses, has raised $1.2 million to expand in Egypt, start new operations in Saudi Arabia, and create a new line of items for clients.
The startup, once known as VOO, claims its goal is to make the e-commerce process for business owners as simple as possible so they can concentrate on their core activities.
Before the rebrand, VOO was one of the top logistics companies in the area, with an industry-leading 85% first-time delivery record and a 90% overall success rate for deliveries of all e-commerce orders.
Over 2,000 e-commerce companies are currently served by SIDEUP. To control the financial flow of their businesses, all SIDEUP clients have the option of accepting cash on delivery, which is paid to merchants every 24 hours. Businesses may access payment gateways and API connectivity for shipping, warehousing, fulfilment, and advisory from a single platform by using the SIDEUP platform.
The SIDEUP platform also enables businesses to operate internationally across 45 nations, giving their goods access to new markets and clientele. Similar to this, service providers working with SIDEUP might find new clients and sources of income.
The firm claims to have a positive cash flow and a monthly GMV of over $500,000 that is increasing by 30%.
With the money, SIDEUP will open an office in Riyadh and use it to launch in Saudi Arabia as well as extend its activities in Egypt. The business will also create a fresh set of consumer solutions throughout the course of the following year.