By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
DailynewsegyptDailynewsegypt
  • Home
  • Business
    BusinessShow More
    blinx: New digital media hub for Middle East’s youth
    blinx: New digital media hub for Middle East’s youth
    September 24, 2023
    ADNOC Distribution launches first ADNOC service stations in Egypt
    ADNOC Distribution launches first ADNOC service stations in Egypt
    September 24, 2023
    Banks’ financial position grows to EGP 13.798trn in 1H 2023, CBE reports
    Banks’ financial position grows to EGP 13.798trn in 1H 2023, CBE reports
    September 24, 2023
    Shell, KUFPEC partner to explore Egypt's Mediterranean Block 3
    Shell, KUFPEC partner to explore Egypt’s Mediterranean Block 3
    September 24, 2023
    Food Export Council holds symposium on challenges of food exports to EU, US
    Food Export Council holds symposium on challenges of food exports to EU, US
    September 24, 2023
  • Politics
    PoliticsShow More
    Sudanese leader Al-Burhan denounces RSF commander’s letter to UN
    Sudanese leader Al-Burhan denounces RSF commander’s letter to UN
    September 24, 2023
    Egypt, Greece, and Cyprus stress coordination on gas, regional issues
    Egypt, Greece, and Cyprus stress coordination on gas, regional issues
    September 23, 2023
    CCCPA, African Union train officials on ‘Climate Responsive Programming for Sustaining Peace’
    CCCPA, African Union train officials on ‘Climate Responsive Programming for Sustaining Peace’
    September 22, 2023
    Egyptian Health Minister highlights country's interest in local drug manufacturing
    Egyptian Health Minister highlights country’s interest in local drug manufacturing
    September 21, 2023
    Egypt leads meeting to urge global support for Sudan’s humanitarian crisis
    Egypt leads meeting to urge global support for Sudan’s humanitarian crisis
    September 20, 2023
  • Interviews
    InterviewsShow More
    Microsoft Egypt aims to provide advanced AI models, build solid AI ecosystem: Mirna Arif
    Microsoft Egypt aims to provide advanced AI models, build solid AI ecosystem: Mirna Arif
    September 18, 2023
    I love privacy, and I am not concerned about competition: Yasmine Sabry
    I love privacy, and I am not concerned about competition: Yasmine Sabry
    September 14, 2023
    Sustainability, digital transformation at the heart of our strategy: Heidelberg Materials Egypt
    Sustainability, digital transformation at the heart of our strategy: Heidelberg Materials Egypt
    September 12, 2023
    India welcomes Egypt's BRICS membership: Boosting trade, investment, and access to strategic commodities
    India welcomes Egypt’s BRICS membership: Boosting trade, investment, and access to strategic commodities
    September 11, 2023
    The box office is not a measure of success: Basma Hassan
    The box office is not a measure of success: Basma
    September 6, 2023
  • Culture
  • Opinion
  • Sports
  • Lifestyle
Reading: Mrsool aims to land new funding during 1H 2022: CEO Al-Sanad
Share
Notification
Latest News
blinx: New digital media hub for Middle East’s youth
blinx: New digital media hub for Middle East’s youth
Business
National Cancer Institute, Novartis Egypt host run to raise awareness on World Chronic Myeloid Leukemia Day
National Cancer Institute, Novartis Egypt host run to raise awareness on World Chronic Myeloid Leukemia Day
Culture
ADNOC Distribution launches first ADNOC service stations in Egypt
ADNOC Distribution launches first ADNOC service stations in Egypt
Business
Banks’ financial position grows to EGP 13.798trn in 1H 2023, CBE reports
Banks’ financial position grows to EGP 13.798trn in 1H 2023, CBE reports
Business
Shell, KUFPEC partner to explore Egypt's Mediterranean Block 3
Shell, KUFPEC partner to explore Egypt’s Mediterranean Block 3
Business
Aa
Aa
DailynewsegyptDailynewsegypt
  • Home
  • Business
  • Politics
  • Interviews
  • Culture
  • Opinion
  • Sports
  • Lifestyle
  • Home
  • Business
  • Politics
  • Interviews
  • Culture
  • Opinion
  • Sports
  • Lifestyle
Have an existing account? Sign In
Follow US
  • Advertise
© 2023 DNE News. All Rights Reserved.
Dailynewsegypt > Blog > Business > Technology > Mrsool aims to land new funding during 1H 2022: CEO Al-Sanad
BusinessInterviewsTechnology

Mrsool aims to land new funding during 1H 2022: CEO Al-Sanad

Daily News Egypt
Last updated: 2021/11/08 at 9:32 AM
By Daily News Egypt 5 Min Read
Share
SHARE

Mrsool, one of the fast-growing on-demand delivery companies in the Middle East, has been in negotiations for a new financing, which may be announced before the end of the first half (1H) of 2022, according to the company’s CEO and co-founder Ayman Al-Sanad.

The company also plans to invest in the Egyptian sports sector, and has been in negotiations with one of the popular clubs to this end.

Mrsool is considered one of the companies that benefited greatly from the coronavirus pandemic, due to the increased demand for its services during the lockdown period last year.

The company is participating this year in Cairo ICT 2021 as the official delivery partner of the exhibition.

What are the most prominent features of Mrsool’s expansion plans into new regional markets? Are there new services to be added in the application?

Mrsool started in 2015 in Saudi Arabia and had an incredible growth journey. The company has over 10 million users and 800,000 couriers in Saudi Arabia and the Middle East. We saw an incredible growth opportunity in Egypt that we have never seen anywhere else.

It’s also challenging and complicated to start a business, but we will manage to do it. Today, we have a very clear footprint in Egypt. Mrsool comes to make it easier for customers to get whatever they want, and for drivers to have additional income.

Mrsool also wants to expand in GCC countries. We have vertical expanding plans, as we expand on what kind of service we offer. Today, we may be the person who provides what everyone wants, we should also focus on what kind of service we do, for example investing in the kitchen concept, making sure that this process is more streamlined and efficient than before. The competition today is about who can grow this market as fast as possible and who can offer the widest variety options. We also think and look into the small family business. The women who cook at home want to deliver, and we can help them get better contact with their clients and facilitate the whole transaction.

Over about seven years of operation, how could you grow that fast, although the company obtained only one funding?

It is amazing for the company to sustain operation without much flow of investment; however, international expansion requires a quick injection of capital to grow the company. We expect that another round of investment is going to happen, but the details will be announced in the next few months.

What is your strategy to expand in the Egyptian market?

We are looking at Egypt as probably one of the most strategic places for Mrsool to expand in, not only for what it is today but what it is going to be in the next 3-5 years.

Mrsool aims to provide more services, and at the same time we will be expanding in more cities. We operate in the major cities, but in the next stage we will expand nationwide.

What are the countries that you will invest in for expansion?

The GCC region is one of our expansion targets after Egypt, but also the upcoming fund will be used to consolidate our position in Egypt and increase our services.

When could Mrsool be a unicorn?

Some people say it is already a unicorn, if it is not already then it will go for it.

Do you plan to offer the company on the Saudi stock market?

Maybe within 2 or 3 years. We had a concern that the market may not understand the technology our company uses, but today we see that this is changing. The appetite for technology companies is amazing, and there is a movement towards technology which makes the prospect of Mrsool going public better than before.

Is the Egyptian market different from other markets?

I think all markets share the fact that they need someone to help them with anything. Everyone has a different taste of the service they want. In the Egyptian market, the people prefer to be in contact with the service provider which is something we probably offer.

You Might Also Like

blinx: New digital media hub for Middle East’s youth

ADNOC Distribution launches first ADNOC service stations in Egypt

Banks’ financial position grows to EGP 13.798trn in 1H 2023, CBE reports

Shell, KUFPEC partner to explore Egypt’s Mediterranean Block 3

Food Export Council holds symposium on challenges of food exports to EU, US

TAGGED: Mrsool
Share this Article
Facebook Twitter Email Print
Previous Article nelly Cairo Film Festival honours veteran actress Nelly with Golden Pyramid Honorary Award
Next Article UNHCR evacuates 172 vulnerable asylum-seekers from Libya to Niger
Ad image
Ad image

Stay Connected

Facebook Like
Twitter Follow
Instagram Follow
Youtube Subscribe

Latest News

blinx: New digital media hub for Middle East’s youth
blinx: New digital media hub for Middle East’s youth
Business
National Cancer Institute, Novartis Egypt host run to raise awareness on World Chronic Myeloid Leukemia Day
National Cancer Institute, Novartis Egypt host run to raise awareness on World Chronic Myeloid Leukemia Day
Culture
ADNOC Distribution launches first ADNOC service stations in Egypt
ADNOC Distribution launches first ADNOC service stations in Egypt
Business
Banks’ financial position grows to EGP 13.798trn in 1H 2023, CBE reports
Banks’ financial position grows to EGP 13.798trn in 1H 2023, CBE reports
Business
//
Egypt’s only independent daily newspaper in English. Discuss the country’s latest with the paper’s reporters, editors, and other readers.

Quick Link

  • Home
  • Business
  • Politics
  • Interviews
  • Culture
  • Opinion
  • Sports
  • Lifestyle

Sign Up for Our Newsletter

Subscribe to our newsletter to get our newest articles instantly!

© 2023 DNE News. All Rights Reserved.

Join Us!

Subscribe to our newsletter and never miss our latest news, podcasts etc..

Zero spam, Unsubscribe at any time.

Removed from reading list

Undo
Welcome Back!

Sign in to your account

Lost your password?