Wasla, a Cairo-based startup that has developed an incentivised mobile browser that rewards users with free mobile internet has raised $1-million in seed funding.
Egypt’s Waya Media reported yesterday in a post on Facebook that the investors involved in the round include Egypt Ventures, Glint Ventures and Ebtikar for Financial Investments.
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Wasla’s browser rewards users with points based on their engagements. Users can then redeem their points for free airtime directly from the browser’s wallet.
Tech publication Menabytes reported in an article yesterday that Wasla — which also enables brands to serve its users with targeted ads — also provides services that include affiliate marketing and field research.
Wasla was founded last year by Mahmoud El Said, Serag Meneassy and Taymour Sabry
The startup — which claims to have over 100 000 users — plans to build a “super app” that will offer social networking, shopping, entertainment and payments.
Wasla was founded last year by Mahmoud El Said (pictured above, far right with members of the Wasla team) and former Rocket Internet entrepreneurs Serag Meneassy and Taymour Sabry.
El Said told Ventureburn today that the round, which was closes this week, will be used to fuel the startup’s go-to-market strategy, grow its team, and introduce new product verticals with a focus on financial inclusion.
The startup said in an earlier statement that it intends to introduce these new verticals next year.
El Said said prior to this latest deal the startup had raised $200 000 from its early investors.
He also revealed that Wasla is looking to expand in Africa and the Middle East.
“The timeline is still not defined but within the next one to two years we should be opening up new markets,” added El Said.
Featured image, left to right: Wasla team including co-founders head of growth Serag Meneassy and CEO Mahmoud El Said (LinkedIn)
