Convertedin Raises $3m Seed Round
The Egyptian startup is built for brands and businesses who desire a single platform to drive personalised and scalable campaigns, convert customers, achieve measurable results and grow revenue.
Convertedin said it has raised a US$3 million seed funding round to help it expand across MENA and Latin America.
Mohamed Fergany, CEO and co-founder of Convertedin said: “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. We have built a marketing operating system, which today is the preferred choice for hundreds of local and international brands. Today, Convertedin is a business with strong fundamentals, and we are honoured to partner with leading global investors as we embark on our next phase of growth.”
According to Convertedin, the US$3 million funding round was led by Saudi Arabia-headquartered Merak Capital, with participation from 500 Global and MSAS. As part of its expansion plans, Convertedin will open its first office in South America in Rio De Janeiro, Brazil. Currently available in multiple languages including Arabic and English, the company will be launching services in Portuguese soon. Convertedin will also utilise funds for further development of its platform and strategic hiring.
Ahmed Aljibreen, partner at Merak Capital added: “As e-commerce businesses become increasingly prevalent, they often lack the capabilities to leverage data for customer acquisition to drive topline growth. The ever-changing landscape of digital marketing platforms adds a new layer of challenges for e-commerce companies.”
“For that and more, we are excited to back Convertedin, a marketing tech company that has built a state-of-the-art platform to simplify digital marketing, improve customer acquisition and drive growth for its clients. Convertedin is led by a world-class team in which we have tremendous confidence as the company embarks on its next stage of growth in MENA and Latin America,” Aljibreen stated.