“VOO is in a hot space of the market - the on-demand services segment, at the right time, and the right region!" said Loay El Shawarby, representing Alex Angels.
Alex Angels, the first Angel Investment Network in Alexandria is announcing its first investment in VOO. The startup is an on-demand delivery platform that matches orders with freelance drivers or couriers who are active on the network & nearby where they carry the order using their own vehicles to deliver it on spot.
“VOO has so many prospects to transform almost every segment of the economy, including revolutionizing the social side of services. Waleed & team have the right experience, exposure & operations' stamina to set the highest goals and achieve them. The team already developed traction from the who's-who in the ecosystem, and a very impressive list of clients and partnerships is already in the making," said Loay, representing Alex Angels.
VOO’s sharing economy model eliminates the expensive and tedious need to create, grow and maintain a fleet of drivers and their vehicles, and that removes the hassle of delivery operations from any business owner of any size.
“We’re launching our first product this month - a consumer-to-consumer delivery app. In the upcoming months we’ll be growing our team, assuring our early adopters robust product that is also cool to interface with, a product to be scaled with pride! The Angel funds committed will help us position onto an upward trajectory," said Waleed Rashed, VOO CEO.
The deal flow took only a few weeks in negotiation and agreement, and a partial transfer of the funds committed, in lieu of 10% in the company's equity, has already been effect.
Alex Angels is intent on investing in high potential entrepreneurs from Alexandria, across Egypt and the Mediterranean, buttressing them to exceedingly realize their full potential locally, regionally, and globally.