Egyptian mobile repair startup iFix has raised a six-figure dollar funding round in order to launch an e-commerce store for mobile phones.
Founded in 2016, iFix is an online platform that allows users to book repair service for their mobile devices, and so far has completed over 50,000 phone repairs.
It has now secured a six-figure investment from Middle Eastern tech investor A15 to launch phone resale platform Gadded, which will connect sellers with buyers and handle things like valuation, payment, delivery and warranty.
The new e-commerce platform will be supported and powered by iFix’s technical know-how and on-ground team, while A15 will provide it with a solid ground to achieve traction locally and regionally.
“Phones have become such an integral part of our everyday life, it’s almost like they have become part of our DNA,” said iFix chairman Mohamed Fayez. “That is why we are excited about this investment and expansion as we continue to make the tech gadgets and phones more accessible to the Egyptian consumer.”
A15 chief executive officer (CEO) Fadi Antaki said nearly 70 per cent of online shoppers in the GCC and Egypt had bought electronics online at least once.
“Hence, the market is a ripe space for Gadded’s novel value proposition and its unique add-ons,” he said.