The move comes off the back of a Series B round in June worth $27.5 million.
Following a Series B round worth $27.5 million in June, Kuwait-based startup, Floward, has moved into Egypt, expanding its flower delivery services in Cairo. Considered a go-to in the GCC, the startup also boasts presence beyond the region, having expanded to the UK in December, 2020.
Founded in 2017 by Abdulaziz Al Loughani, Floward sources flowers from around the world, offering packages that incorporate sweets, cakes and other gifts and using top florists. The key to the startup’s success, however, lies in the fact that it boasts its own last-mile delivery fleet, which allows for the often underrated luxury of same-day delivery. The startup claims annual net revenue of $30 million.
Fo rAl Loughani, Egypt is a regional market that almost beckoned Floward.
“have great confidence in the Egyptian economy, valued at more than USD350 billion, with the flowers industry estimated at nearly USD300 million,” he said of the move. “This makes it an up-and-coming and attractive market to launch our services in and also to provide job opportunities for the Egyptian youth and talents.”