May 20, 2024
Investment

Egypt’s FriendyM raises $3.2 million investment


Egypt’s FriendyM raises $3.2 million investment

  • Egypt-based autotech FriendyM, has $3.2 million investment.
  • Founded in 2016 by Abdelrahman Elgamal, FriendyM offers, through its platform, several car services like maintenance, tracking car expenses, and concierge services, among others.
  • FriendyM, which is already operational in Saudi Arabia, the UAE, Cairo, and Alexandria, will use the new cash influx to extend its services to all governorates across Egypt.

Source: Afrikan Heroes

In a significant stride towards leveraging technology for the benefit of citizens, “FriendyM,” Egypt’s pioneering car management and maintenance application, made its debut yesterday. The startup, backed by a substantial investment of 100 million EGP ($3.2 million), is already operational in Cairo and Alexandria, with ambitious plans to extend its services to all governorates across Egypt.

Founder and CEO of “FriendyM,” Abdelrahman Elgamal, expressed the company’s commitment to innovation and technology, stating, “We hope to provide innovation and technology to our customers, and we are working to strengthen our presence in the Egyptian market.”

The application, which is also active in countries such as Saudi Arabia and the United Arab Emirates, aims to reach 100,000 cars on its platform within the first year. “FriendyM” stands out by sending regular maintenance reminders, tracking necessary operations, and assisting users in calculating average maintenance costs based on registered car data.

In addition to managing maintenance schedules, the application facilitates the tracking of car expenses, including fuel bills, parking fees, and cleaning costs. Users can attach all invoices to their accounts, and the app provides an expense analysis service to help manage and optimise spending.

Key features of the application include a “Chat Support” feature, connecting users with mechanical engineers and specialists for inquiries. It also allows users to book maintenance appointments at competitive prices through specialised centres listed on the platform. Furthermore, “FriendyM” offers emergency SOS services and creates comprehensive car records, which are beneficial for resale purposes.

Excitingly, “FriendyM” plans to introduce Lite and Elite concierge services, available through monthly subscriptions. The Elite concierge service offers unique benefits, such as requesting relief vehicles during emergencies and car replacement services for more extended maintenance periods. Subscribers to both packages enjoy exclusive discounts of up to 25% on maintenance costs and annual insurance subscriptions.

Abdelrahman Elgamal expressed his delight at launching “FriendyM” in Egypt, highlighting the dedication of the professional and enthusiastic team behind the venture. He emphasised the company’s commitment to capitalizing on Egypt’s digital transformation revolution to enhance its local presence and deliver a unique experience to its customers.

Elgamal also outlined a specific focus on reaching all segments of society, particularly women, acknowledging their relatively lower familiarity with technical aspects of cars. Through innovative digital solutions, “FriendyM” aims to empower women to efficiently manage both periodic and emergency maintenance, offering essential advice for optimal car performance.



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