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Egyptian HitchHiker raises $200,000 seed funding from Dubai’s Angel Investors

Egyptian HitchHiker raises $200,000 seed funding from Dubai’s Angel Investors
This is the company’s first round of fundraising since establishment after bootstrapping for 18 months

Mubasher: Egypt-based startup HitchHiker has raised a $200,000 seed round from Dubai-based Angel Investors.

This is the company’s first round of fundraising since establishment after bootstrapping for 18 months, according to an official statement on Wednesday.

The Egyptian startup will use the funding to grow its peer-to-peer (P2P) social network that connects travelers with shoppers through more targeted marketing, business development, customer retention, and more reach in Egypt, HitchHiker’s co-founder and CEO, Hussein El-Terawy, said.

“We seek to enter regions that are in need of this service such MENA, Latin America, south America and others. Scaling up is a very tricky part, but we are very focused in the Growth Phase we’re implementing in Cairo.” El-Terawy added.