Convertedin raises USD 3 million in Seed round

Egypt’s Convertedin has raised USD 3 million in a round featuring regional and international investors.

Convertedin offers a marketing operating system targeting e-commerce brands. The company has developed a single platform designed to drive customizable and scalable marketing campaigns, convert customers and provide detailed, measurable results. Convertedin works with companies and brands across Africa, the Middle East and South America in the automotive, healthcare, technology and other industries. The company was founded in 2019 by Mohamed Atef, Mohamed Fergany and Mustafa Raslan. Investors included Merak Capital, 500 Global and MSAS.

Convertedin: Converting customers

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 honored to partner with leading global investors as we embark on our next phase of growth.” 

The importance of data

Convertedin aims to support companies in the move to making sales through e-commerce. The firm’s offerings allow their clients to unify zero-party and first-party data, create marketing efficiencies and focus on growing their revenue. According to the company, brands can increase their return on advertising spend (RoAS) dramatically and also reduce customer acquisition costs.

Through a suite of tools, marketers can deploy campaigns across the web, search engine ads, social ads, SMS, and email services, while having the ability to track and attribute revenue conversion. The system is currently available in several languages including Arabic and English, and will soon be launched in Portuguese. The company works directly with brands, while also operating in partnership with leading media buying and advertising agencies.

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.”

Regional and international expansion

Convertedin intends to use the new funds to open a first office in South America while expanding across Egypt and Saudi Arabia. According to the firm, e-commerce revenue in South America is set to grow to USD 167.34 billion by 2025.

While July was the slowest month of the year in terms of investments in startups, Egypt saw investments rise month-on-month.