Cairo Angels invests in Home-Servicing platform FilKhedma
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Egypt-based on-demand homecare servicing platform FilKhedma has successfully raised an undisclosed amount in their latest funding round led by The Cairo Angels, a global network of angel investors focused on supporting startup opportunities in Egypt, the Middle East, and Africa.
Founded by Omar Ramadan in 2014, FilKhedma links top technicians with customers in need of a range of services, from plumbing and carpentry to electricity and painting.
As observed in our Q3 2021 Egypt Venture Investment Report, Egypt saw more early-stage transactions in Q3 YTD 2021 than any other MENA geography. Deals under $500K accounted for over half (52%) of all venture activity in Egypt in Q3 YTD 2021. This proportion stood at 18% in the UAE and 26% in KSA. The median size of early rounds fell slightly in Egypt (-20%), the only top three MENA geography to experience a drop. As deals sized between $500K to $3M accounted for 13 percentage points more in Q3 2021 YTD than in FY 2020, the median Series A size tripled during this time ($15M in Q3 2021 YTD).
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The Egypt-based on-demand home servicing platform has raised over $1M in funds prior to this latest investment. To this effect, Cario Angels is the new addition in FilKhedma’s consortium of strategic investors including Glint Consulting, Algebra Ventures, and initial investors HIMangel. "We are very happy to welcome Cairo Angels on board Filkhedma and tap into the breadth of experience of the different angels within the network. This investment comes just ahead of a significant milestone for the business to be announced very soon! The investment by Cairo Angels will help us further grow our home cleaning and beauty services and generate more GMV from our B2B2C partnerships," highlighted Omar Ramadan, Founder of Filkhedma.
This latest investment will help the startup further develop its platform and product offering. Commenting on FilKhedma’s promising potential for growth Nader Aboushadi, Board Member at Cairo Angels concluded "Filkhedma is a solid company with credible management and a bright future. Omar and his team are embarking on new heights and we at Cairo Angels are happy to have been and continue to be part of their successful journey.”
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