Egypt-based DigiFi secures Pre-Seed funding round
DigiFi Network, a WiFi-enabled platform that lets business owners/advertisers reach digital audiences more efficiently and effectively with a lower cost of advertising, has successfully secured a Pre-Seed funding round from Loyal VC.
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DigiFi was founded by Ahmed Nassef and Mohamed Maher in 2019. Ahmed has previously established a highly successful software development firm and digital marketing agency, while Mohamed has more than 15 years of experience in business development in several corporates.
With DigiFi, customers can share their basic profile data with the business owner in exchange for free WiFi at their establishment. The business owner then can use this demographic data to promote their services to the customer at a later time. 3rd party advertisers can promote push-based advertising to the same customers with a share of the advertising spend going to the business owner. DigiFi is a graduate of the Founder Institute program in Egypt which has been instrumental in facilitating the deal.
The startup has over 50 venues in its portfolio including, Four Seasons’ First Mall, Mountainview Clubhouse, Sachi, Kazoku, the Mokai Chain, and more, with more than 500,000 monthly ad views. Their vision is to become the biggest data hub for enhancing the retargeting campaigns for digital advertisers.
Ahmed Nassef commented, "I’m so proud to be the first Egyptian startup of Loyal VC’s portfolio. Their continued support and mentorship with their class A mentors will add a lot of value to our company."
The funds will be used to continue to invest in scaling the DigiFi platform by building on its UI, adding reporting capabilities, growing its operational capacity, and expanding its growing market reach.
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