OUR FOUNDER OF THE WEEK– Every Tuesday, Founder of the Week looks at how a successful member of Egypt’s startup community got their big break, asks about their experiences running a business, and gets their advice for budding entrepreneurs. Speaking to us this week is Sophia Korayim (LinkedIn), co-founder and COO of Weelo.

My name is Sophia Korayim, and I’m the co-founder and COO of Weelo, a US-based tech company (with a subsidiary in Egypt) aimed at revolutionizing sales and distribution channels for the supply chain. I have an MBA from Duke University and an undergraduate degree in finance and accounting. I’ve been a director of centers of excellence over the past 15 years in the MENA region.

I started my career as a financial analyst with Merrill Lynch and, as I was working with them, I kind of had a moral intervention and decided I didn’t want to work for the private sector anymore. I wanted to help socioeconomic development, and that’s why I started getting involved in centers of excellence. My last job was with the Abu Dhabi Chamber of Commerce. I was also responsible for a center of innovation and entrepreneurship in the UAE, where I lived for about the last 10 years.

I could see that the supply chain industry was ripe for disruption. The sales and distribution processes, especially in the FMCG industry, are incredibly complex and disjointed. My co-founder and I launched this business because we saw a chance to make an impact. We saw the potential for a technology solution that could streamline and simplify the processes for companies of all sizes.

We built Weelo to level the playing field. Our solution manages multiple sales channels, from warehouse to money collection. Other programs like SAP, Oracle, and Microsoft are incredibly expensive. It isn’t fair when an SME doesn’t have financial access to the technology, just because they can’t afford it as much as big multinationals. Instead, these small players use simple or manual processes to manage their sales and distribution channels. That’s where we identified the problem — and offered an affordable solution that manages sales channels from warehouse to money collection.

What differentiates Weelo in the market is how user-friendly the platform is. The programs built for sales and distribution platforms are usually very complex. As a result, the end users — the salespeople on the field and the marketing teams — are not using the technology to its full potential. We built a very user-friendly UX/UI model that enables anyone — tech-savvy or not — to wield the technology.

That user friendliness is important, because of the tech that’s actually provided. We have a predictive analytics feature in the software that can predict sales for up to 90 days with c.92% accuracy. The platform has a customer stock feature allowing our clients to see what’s on their customers’ shelves and will then use buying behavior patterns to forecast that customer’s future stock orders. It then notifies the sales manager that this customer is going to place an order within an anticipated amount of time with an anticipated amount — so our client knows to send their sales personnel to that customer to make the sale.

Weelo gives users a 360-view of the organization — especially the sales department, which is the bread and butter of any company. We offer a sales and distribution platform that manages multiple sales channels — instead of having to rely on multiple sales channels to be able to sell in the market — in one convenient software with efficiency. It centralizes the process and helps companies overcome inefficient systems. Importantly, Weelo also has a distributor module, which has typically been a black box. Companies like Nivea, Mongini’s, or SC Johnson — all of which are our clients — have distributors that would previously just pay them for whatever they sell. But by using Weelo, they can actually see what’s going on at the distributor.

We closely monitor three KPIs that are critical to our success: Revenue, customer satisfaction, and most importantly, employee satisfaction. These indicators provide us with valuable insight into our business and allow us to identify areas for improvement, both internal and external.

Starting a business is not for the faint of heart. It requires a lot of hard work, sacrifice, and dedication. I gave up the security of a stable job and a steady income to pursue our vision, but I never looked back.

The most rewarding aspect of my job is seeing the impact that our technology has on our clients. It gives me such a sense of pride and fulfillment. I can’t tell you what happens when you see their eyes light up and say, “Oh my God; I can actually afford this tech.” It’s really a game changer. We’ve many case studies of small and medium-sized manufacturers and distributors seeing over 40% increases in sales and 60% reductions in cost as a result of using Weelo.

The only challenging parts are the long hours and the pressure to succeed. Our investors, clients, and followers all expect us to grow and succeed. But the rewards far outweigh the sacrifice.

My advice to anyone thinking of starting their own business is to be true to yourself and your vision. Starting a business is a journey and it’s essential to have a clear understanding of your goals and the steps you need to take to achieve them.

It takes a village to build a successful company. When I’m faced with a difficult problem, I always turn to my business partner, Mohammed Asfour. He has a wealth of knowledge about the tech industry. I also seek advice from our mentors, industry extras, and a lot of trusted colleagues.

I’ve built a very supportive network of colleagues and friends and family who have been there for me every step of the way, so I didn’t find the journey of building a startup to be lonely at all. I’m definitely a people person and I need my network to keep going.

We built this company from scratch and there’s a sense of pride and fulfillment that comes with that. We started by bootstrapping the company, and some notable investors joined us along the way. We were first incubated with Flat6Labs, then our first investment rounds were with SkaleUp Ventures, Integral Capital, AUC Angels, and Expert DoJo in California. We’re currently working on closing our pre-series A round and seeking strategic investors that understand the supply chain and can help us support our regional expansion plans.

We’re launching a new branch in Jeddah in the next month, then hopefully one in Dubai. In the short-term, we want to become the leading provider of sales and distribution technology in our industry. In the long term, we want to transform the way SMEs approach sales and distributions on a global scale.

We’re always looking for the right strategic investor because it’s not just money. Our investors understand our area and scope. We’re very particular with who we drum up investments from.

If I were to exit my company tomorrow, I would do it through a trade sale or a merger with one of our complementary companies like Microsoft Dynamics, SAP, or Oracle. In that case, I’d stay on with senior management or the board of directors to make sure the technology isn’t dismantled or that it’s just our customer base that’s being capitalized on. I would want to continue contributing to the growth and the success of the company.

My family’s been incredibly supportive of my career choice. They’re really proud of what I’ve accomplished and they understand the sacrifices that come with building a business. My daughter is six months old, and I consider her Weelo’s littlest intern. Sometimes when I’m on a Zoom call at home, I let her listen like she’s in training.

The last great thing I read was The Lean Startup by Eric Ries. That’s a book that has really impacted me, especially as an operations person. It’s a really valuable resource for anyone starting a business.

I do a lot of traveling with my family whenever we have those long holiday weeks. A lot of it is Gouna, the North Coast, or travel abroad. I play squash, and when the weather’s nice, I play golf — not during the winter though.

I can’t even imagine not doing Weelo, but if I weren’t, I’d be working on another startup. Entrepreneurship is in my blood. I have a passion for solving conflicts and creating things out of nothing. For now, I’m fully focused on making this company a success, but I do have a few ideas for future businesses that I’d love to pursue. There’s so much that needs to be done in the supply chain field. I’d also definitely love to be a university professor. I’d probably teach entrepreneurship and innovation — that’s kind of my retirement plan.