Convertedin, an Egyptian startup that operates a marketing system for e-commerce brands, raised $3 million in a seed round led by Saudi-based Merak Capital and the company will use the funds for strategic hiring and further development of its platform.
The Egyptian startup said that it plans to launch its operations in Brazil as e-commerce revenue in South America is projected to reach $167.3 billion by 2025 from 244.1 million users. Other participating investors include 500 Global and MSAS.
Founded in 2019 by Mohamed Atef, Mohamed Fergany and Mustafa Raslan, Convertedin offers a single platform for brands and businesses that plan to drive marketing campaigns worldwide. The startup said in a statement that it currently serves brands across Africa, the Middle East, and South America, while plans are afoot to launch its operations in Latin America in 2022.
“As SMBs around the world build e-commerce services, they need the right tools to convert customers and generate revenue. With Convertedin, brands no longer need expensive and complex infrastructure for data-centric marketing,” Mohamed Fergany, CEO and co-founder of Convertedin said in a statement.
When brands shift to e-commerce sales, they operate with vast amounts of fragmented data that need to be unified to drive informed decisions and growth. Digital platforms such as Convertedin help to unify zero-party and first-party data to unlock value for businesses, create marketing efficiencies and have a singular focus on growing revenue.
Convertedin is not the first digital marketing platform to secure funds in the MENA region. FoxPush, a Dubai-based digital publishing and marketing solution provider, secured a $15 million investment from Lebanon-based JGroup in 2020.