DigiFi Network, a Wi-Fi-enabled platform that helps business owners reach digital audiences more efficiently and affordably, has raised pre-seed funding from the US-based Loyal VC to help it scale.
Founded in 2019 by Ahmed Nassef and Mohamed Maher, DigiFi allows customers to share their basic profile data with a business owner in exchange for free Wi-Fi at their establishment. Business owners can then use this demographic data to promote their services to the customer.
Third party advertisers can promote push-based advertising to the same customers, with the business owner taking a share of the advertising spend.
A graduate of the Founder Institute programme in Egypt, which has been instrumental in facilitating the funding from Loyal VC, DigiFi has over 50 venues in its portfolio and more than 500,000 monthly ad views.
The startup’s vision is to become the biggest data hub for enhancing retargeting campaigns for digital advertisers, and it will use the funding to scale its platform by building on its UI, adding reporting capabilities, growing its operational capacity, and expanding its growing market reach.
“I’m so proud to be the first Egyptian startup of Loyal VC’s portfolio. Their continued support and mentorship with their class A mentors will add a lot of value to our company,” said Nassef.