Africa’s first localized mobile web browser, Wasla, has secured $9M in Series A funding from Contact Financial Holding.
Wasla combines browsing and online shopping technologies, with a goal of providing better internet for emerging markets.
Speaking on the corporate round, Hazem Moussa, Chairman of Contact Financial Holding said,
“With over 20 years of innovation in consumer financial services, this strategic investment demonstrates Contact’s drive to multiply its reach and empower businesses with its advanced credit services platform.”
Thus, this new funding will enable Wasla to expand into new markets across the continent.
Founded in 2018 by Serag Meneassy, Taymour Sabry, and Mahmoud El-Said, Wasla currently boasts of 1.5m downloads with triple year-on-year growth in e-commerce. It allows the comfort of staying at home while making orders. With its improved shopping functionalities, Wasla offers free internet service to its users, thus enabling customers to save as they buy.
Speaking of the company, Serag Meneassy, co-founder of Wasla says, “In just under three years, we’ve gone from a simple pitch deck to building Africa and the Middle East’s first Browser! What started off with a goal of helping users save data online has shifted to helping users save money while shopping online, thus, enabling millions of new eCommerce shoppers to search, discover and shop online.
“With this strategic investment, the goal is to build an end-to-end e-commerce platform and introduce an innovative new BNPL offering, leveraging Contacts infrastructure, experience in consumer finance, and advanced credit scoring capabilities.”
With Wasla’s incentives such as cashbacks, discount codes and airtime, the web browser accumulates available commodities alongside their relational prices. It allows consumers to also purchase goods found in traditional brick-and-mortar stores from e-tailers.
Moving on, Wasla is set to include certain credit facilities including Buy-Now-Pay-Later (BNPL) and a variety of payment options for its customers.
Furthermore, Wasla’s partnership with Contact would enable the introduction of new methods for customers to save money on each online purchase, as well as pay securely, build their credit profiles, and borrow flexibly.
The company is set to change the way users in emerging markets shop online by culminating commodities and their comparative prices.
Subsequently, Wasla intends to plunge ahead in regional expansion with the Nigerian e-commerce space in view.
