The funding round was led by Saudi Arabia headquartered Merak Capital with participation from 500 Global and MSAS
Convertedin, an Egyptian startup that operates a marketing operating system for e-commerce brands, has secured $3 million in a recent seed round to support the hiring and further development of its platform.
“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,” said Mohamed Fergany, CEO and co-founder of Convertedin in a statement.
As part of its expansion plans, Convertedin will open its first office in South America in the Brazilian city of Rio De Janeiro.
The funding round was led by Saudi Arabia headquartered Merak Capital with participation from 500 Global and MSAS.
The tech startup pointed out that the SMB e-commerce marketers that use its platform see their return on ad spend (ROAS) jump by 2x, as well as reducing customer acquisition costs (CAC) by 40%. The company works with over 100 local and multinational brands across Africa, the Middle East and South America in the automotive, healthcare and technology industries.
Convertedin’s revenues from these businesses have been growing in “double-digits” month-over-month, Fergany said.