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Egypt-based autotech FriendyM has raised $3.2 million to fund its expansion plans.
The company, which already has presence in Saudi Arabia, UAE, Cairo and Alexandria, operates an application that specialises in car management and upkeep, said to be the first of its kind in Egypt.
Founded in 2016, the start-up will use the new cash influx to extend its services to all governorates across Egypt and aims to log 100,000 cars on its platform in one year, the company said in a statement.
FriendyM offers services to help car owners manage vehicle upkeep.
“We aim to reach all segments of society, especially women, because they are naturally less experienced in knowing what concerns the technical aspect of the car,” said Abdelrahman Elgamal, founder and CEO of FriendyM.
The application sends notifications to remind users of their car’s regular maintenance appointments and manages car expenses such as fuel bills, parking spaces and cleaning. Users will be notified how much the upkeep would cost and what needs to be covered in the maintenance.
It offers a chat support feature to connect users to mechanical engineers and specialists, to respond to queries, as well as emergency SOS services.
(Writing by Cleofe Maceda; editing by Brinda Darasha)
