The group-buying platform Waffarha has raised a seven-figure investment from Saudi Venture Studio (VMS). With this investment, Waffarah is expanding into Saudi Arabia and aims to establish itself as the go-to destination for deals and savings.
Waffarha also provides a B2B line that offers intelligent white-label loyalty solutions to significant partners and vendors in various sectors, such as banks, transportation, telecom, FMCG, and more. This service ensures customer retention and satisfaction through long-term point accumulation redemption and instant reward campaigns.
Founded by Tarek Magdy and Noha Hamdy in October 2012, Waffarha has a vast network of over 1,000 merchants and over 3000 stores, catering to all necessities and luxuries of life to over five million customers without any subscription fees.
A note by the company stated in 2018 that Fawry, for banking technology and electronic payments, had expressed interest in Waffarha and had acquired a 30 per cent share of the company.
Waffarha aimed to expand the business horizons by adding new services like bill payment, enabling users to pay all their bills and purchase vouchers online, all on one platform. The platform has also started a unique business case called “Offers Marketplace Aggregation Service,” enabling other customers to purchase discounted vouchers and pay for them across many apps.
