Raseedi raises $400,000 in seed funding
Raseedi, a Cairo-based startup that helps dual SIM users (in Egypt) optimize their telecom spend through its mobile app, has raised $400,000 in a seed fund round led by 500 Startups with participation of Falak Startups and EFG-EV Fintech, the startup announced in a statement yesterday.
Founded last year by Ahmed Atalla and Samuel Samy, Raseedi has developed a phone dialer app for dual SIM users on Android that uses a smart algorithm to cross-match user consumption with most suitable packages on both lines and automate calls from the cheapest SIM for each call. In simple words, with Raseedi installed, any dual SIM user will be able to make the cheapest possible calls (from the options that are available), without having to think and choose the options.
The startup, in a statement, said that its app is addressing the pain-point that affects a large part of population Egyptians who are dual SIM users. The cost of a cross-operator minute is up to five more expensive than a minute used on the same network which is why such a large number of Egyptians have resorted to simultaneously use two SIM cards to optimize their spend, Raseedi’s statement explained.
“But with over 500 different packages being offered in the market by telecom operators, it is extremely difficult to subscribe to the most suitable packages for both lines/SIMs,” it added.
That’s where Raseedi helps with its dialer app that has been downloaded over 200,000 times since its launch ten months ago.