New Investments
Egyptian E-Commerce Platform WayUp Sports Secures Seed Funding for Regional Expansion
Founded in 2021, WayUp Sports has emerged as a leading provider of diverse specialized and performance-based sportswear and equipment, catering to the growing demand among athletes and sports enthusiasts.
Since raising a pre-seed funding round last year, the company has experienced a remarkable nine-fold growth, securing strategic partnerships with over 70 local and international brands, offering products for more than 15 sports, and serving over 100,000 customers.
This undisclosed seed round was spearheaded by Beltone Venture Capital, Index Sports Fund, and a group of strategic angel investors.
The funding will be instrumental in supporting WayUp Sports’ ambitious goals of expanding its regional reach, launching its own private brand, and continuously improving the user experience across its digital platforms.
Commenting on this significant milestone, Mohamed Afifi, co-founder and co-CEO of WayUp Sports, expressed his gratitude to the investors for their confidence in the company’s vision and potential.
Ali Mokhtar, CEO of Beltone Venture Capital, echoed Afifi’s enthusiasm and highlighted WayUp Sports’ remarkable achievements.
This seed funding round underscores WayUp Sports’ strong position in the Egyptian sports retail market and its potential to expand its reach across the MENA region.
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