Egypt’s e-commerce platform Mobile Masr has raised $500,000 in seed funding from a team of angel investors based in the UAE and Qatar, in partnership with Intercap Capital Investment Bank.
The funds will be used to further consolidate MobileMasr’s presence as an e-commerce portal specializing in the sale of used mobile phones and tablets while expanding further with the launch of new innovative products and services.
Founded in 2021, Mobile Masr offers a marketplace for used mobile phones and electronics, with a range of payment options and country-wide delivery.
Wael El Ashry, Founder and CEO of MobileMasr, said “Lack of trust is the biggest barrier to buying used phones online. By designing and developing mobile diagnostics software that checks and reports on the phone, we solved that problem on a commercial level, MobileMasr offers the transparency and security that was lacking in the online used phone space.”
