Jinni raises six-figure in funding

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Source: MenaBytes 

Cairo-based cleaning services startup Jinni has raised six-figure (USD) investment from AUC Angels, the newly launched angel group told MENAbytes today, without disclosing exact size of the deal. It is the first disclosed investment of AUC Angels, the first university-based angel network of the region.

Founded in late 2016 by a husband-and-wife-duo; Mostafa Ghannam and Alaa Shams, Jinni offers different types of cleaning services to both residential users and corporate clients. The startup that initially received orders through Facebook, phone and email, has recently launched its mobile apps for both sides of the marketplace; customers and cleaners, allowing customers to book cleaners through these apps.

Jinni claims to have served over 3,000 residential customers completing over 12,000 orders for them and tens of corporate clients including Uber, Modelez International, and Egyptian Steel since its launch, in Cairo, Giza and the North Coast. Jinni grew its GMV from EGP 1.3 million (~USD $81,000) in 2017 to EGP 3 million (~USD 186,000) in 2018 and has been able to grow it three times YoY to EGP 9.5 million (~USD 590,000) in 2019 (for the period until Oct 2019 – with two months still to go in the year).

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