Egypt’s Convertedin raises $3 million Seed round
- Egypt-based marketing platform Convertedin, has raised a $3 million Seed round, led by Saudi Arabia-headquartered Merak Capital, with participation from 500 Global and MSAS.
- Founded in 2019 by Mohamed Atef, Mohamed Fergany and Mustafa Raslan, Convertedin is a marketing operating system built for companies to drive e-commerce sales and grow their revenue.
- Convertedin will use the funds to launch operations in Brazil while expanding its presence in Egypt and Saudi Arabia.
Convertedin, a marketing operating system for e-commerce brands, has announced it has raised a $3 million Seed round from global and regional investors. This round was led by Saudi Arabia-headquartered Merak Capital and also saw participation from 500 Global and MSAS.
Convertedin is built for brands and businesses who desire a single platform to drive personalised & scalable campaigns, convert customers, achieve measurable results and grow revenue. Today Convertedin works with hundreds of homegrown and multinational brands across Africa, the Middle East and South America.
Mohamed Fergany, CEO and co-founder of Convertedin said, “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. Today, Convertedin is a business with strong fundamentals, and we are honoured to partner with leading global investors as we embark on our next phase of growth.”
As brands make the shift to e-commerce sales, they operate with vast amounts of fragmented data. With its advanced technology, Convertedin helps to unify zero-party and first-party data, unlock value for businesses, create marketing efficiencies, and have a singular focus on growing revenue.
With Convertedin, on average, brands increased their ROAS by 2x and reduced customer acquisition costs by 40%. The company’s clients include leading names from across automotive, healthcare, technology and other industries.
Ahmed Aljibreen, Partner at Merak Capital, said: “As e-commerce businesses become increasingly prevalent, they often lack the capabilities to leverage data for customer acquisition to drive topline growth. The ever-changing landscape of digital marketing platforms adds a new layer of challenges for e-commerce companies. For that and more, we are excited to back Convertedin, a martech company that has built a state-of-the-art platform to simplify digital marketing, improve customer acquisition and drive growth for its clients. Convertedin is led by a world-class team in which we have tremendous confidence as the company embarks on its next stage of growth in MENA and Latin America.”
As part of its expansion plans, Convertedin will open its first office in South America to be located in the Brazilian city of Rio De Janeiro. With e-commerce revenue in South America set to grow to $167.34 billion by 2025 from 244.1 million users, Convertedin is well positioned to help businesses accelerate growth and drive revenue generation.
By shaping the future of data-centric marketing, Convertedin is reimagining how brands engage with customers to build trusted relationships and maintain customer privacy. Integrating with over 10 major e-commerce platforms and ad networks, Convertedin helps drive customer engagement and conversion online and offline.
Through a suite of industry-leading tools, marketers can easily deploy campaigns across the web, search engine ads, social ads, SMS, and email services, while having the ability to track and attribute revenue conversion.
Currently available in multiple languages including Arabic and English, the company will be launching services in Portuguese soon. Since Launching in 2019, Convertedin works directly with brands, while also operating in partnership with leading media buying and advertising agencies.