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Thursday, 31 March 2022

Intella closes USD 1 mn seed round + online grocer ON Market raises USD 215k

Cairo-based market research firm Intella has secured USD 1 mn in a seed funding round led by Hala Ventures, with participation from Falak Startups, the International Cooperation Ministry’s venture capital arm, Egypt Ventures, and a number of angel investors, according to a statement (pdf). The startup bills itself as the region’s first real-time intelligence provider, and aims to make data and market research more accessible and reliable by enabling customers to conduct “direct to consumer” market research.

The funding will help the company expand the platform’s tech offerings, including launching a platform-as-a-service (PaaS) and developing new AI-based predictive analytic tools. These tools “will ultimately help Intella ramp up its capacity to capture 1.2 mn + data points per day, while growing its panelist engagement platform to reach 500K verified users,” CEO Nour Altaher said.


Online grocery marketplace ON Market has raised USD 215k in a pre-seed round from regional angel investors led by Saudi Arabia’s Yasser AlGhamdi (LinkedIn), the company said in a statement (pdf). The startup will use the funds to expand in its existing Tanta and Cairo markets, launch in Mansoura and Alexandria, and scale its tech solutions.

About ON Market: The startup is the first in the market to allow shoppers to combine purchases from multiple retailers in a single order basket, according to the release. Customers can purchase up to EGP 1.5k of goods per order for delivery within an hour through the app, which launched in Tanta in 2020 before expanding to Greater Cairo’s Nasr City and Heliopolis in February. ON Market graduated last year from AUC Venture Lab’s accelerator program.

We like the fact that ON Market started in a governorate before moving into Cairo. More of this, please.

Future plans: The company aims to launch operations in Mansoura in the third quarter of this year, and in Alexandria in 2Q2023.

SME-focused fintech startup PayMint has closed a seven-figure seed round from Aur Capital subsidiary Aur Fintech, according to a press release picked up by Wamda. The release does not specify the currency of the seed round.

About PayMint: Founded in 2019, the company provides fintech services to SMEs, including salary payments, working capital financing, and supplier payments.

Where is the money going? The funding will support the company’s expansion plans in Egypt, which include launching new payment services and microfinance products for small firms.

ADVISORS: Our friends at ALC Alieldean Weshahi & Partners were legal advisors to Aur Fintech on the transaction.

Paymob + GrubTech partnership to streamline payments for Egypt’s F&B industry: GrubTech, a restaurant platform, and payment gateway Paymob have signed a partnership agreement to incorporate digital payments for local restaurants, cafes, and cloud kitchens using GrubTech, according to a press release (pdf). Industry players that use GrubTech’s PoS and restaurant management system will automatically be included in Paymob’s network, which will see Paymob process consumer card payments through GrubTech’s PoS.

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