Egypt’s Algebra Ventures has partnered with Ezdehar Management firm to invest in Dsquares, a loyalty solutions provider. The investment comes at a time when Dsquares is preparing to launch its business to consumer (b2c) product, the Lucky Discounts application.
“We are pleased to partner with Algebra Ventures, a venture capital that we think is of great value to its portfolio companies across different segments,” said a Dsquares spokesperson. “We believe that being backed by Algebra’s consumer-tech experience will significantly enhance Dsquares’ development and future expansion strategy in the consumer apps business.”
“With the big launch of Lucky Discounts App and a strategic partnership with Algebra Ventures, we are very optimistic about the future of Dsquares. Such a tactical investment will pave the way for Dsquares to maximize exposure and leverage innovation and technology to continue serving brands and consumers all over Africa and the Middle East,” added Dsquares’ spokesperson.
Founded in 2012 by Marwan Kenawy, Ayman Essawy, and Momtaz Moussa, Dsquares supports large corporate clients including banks, FMCGs, and telecommunication operators to retain customers and develop their spending patterns. In 2018, Dsquares secured funding from Ezdehar Management to support its b2b and b2c growth plans.