Odiggo, a Cairo-based e-commerce marketplace for auto spare parts raises $180,000 as seed funding at the valuation of $1.25 million, according to a statement released by the startup to MENAbytes.
The $180,000 was raised from Saudi Angel investor Saeed Al
“We’ll also be using it to expand our team, grow our technical infrastructure to make it more scalable and reliable for the users, and for customer acquisition and marketing,” he adds.
The startup generates revenue by charging 7 to 22% commission on every order made on their website or mobile app. According to the founders, the platform Odiggo has the largest catalog of auto spare parts in the region having over 290,000 products in their database.