Contact Financial has committed up to $9 million to help Wasla enhance its e-commerce and financial services in emerging markets, fostering regional expansion and improved user experience.

Information on the Target

Wasla is a pioneering platform aimed at enhancing the e-commerce experience for users in emerging markets. Founded in 2019 by Mahmoud El Said, Serag Meneassy, and Taymour Sabry, Wasla provides a mobile web browser and desktop extension that aggregates deals from over 100 local and regional e-commerce merchants, similar to the US startup Honey. The platform has achieved impressive growth, with 1.5 million app downloads and an 8.5x year-on-year increase in total e-commerce traffic. Wasla's mission is to enable e-commerce, payments, and credit access while ensuring users enjoy a seamless online shopping experience.

With a recent partnership with Egypt Ventures that helped secure Pre-series A funding, Wasla has expanded its services and is now poised for regional growth across Africa, recognized as one of the fastest-growing consumer markets worldwide. The company focuses on optimizing the e-commerce search experience and helping users save money, while also building their credit profiles through flexible financing solutions.

Industry Overview in Egypt

The fintech industry in Egypt is witnessing a transformative wave, driven by technological advancements and a growing demand for digital financial services. As the largest consumer finance platform in Egypt, Contact (formerly Sarwa Capital) is at the fore