Egypt’s WaffarX raises investment from US Lobby Capital

Egypt’s WaffarX raises investment from US Lobby Capital

Press release:

Egypt-based marketplace and pioneering cashback shopping service WaffarX has successfully closed a multi-million dollar financing round led by the Silicon Valley venture capital firm Lobby Capital, making their debut investment in the Mena region. 

Founded in 2018 by Ezz Fayek, Mahmoud Montasser and Ahmed Kamal, WaffarX uses cutting-edge technology to distribute cashback rewards, helping shoppers save on every dollar they spend. WaffarX’s secure channel helps brands shift and spend directly to consumers via cashback rewards. This creates deeper loyalty for brands, whilst customers monetize their own data, instead of third parties.