“A problem is a chance for you to do your best.”
This quote by famous American jazz pianist and composer Duke Ellington fits well in the case of Egyptian entrepreneur Waleed Rashed, founder of Sideup — a Cairo-based technology start-up that helps e-commerce businesses to achieve scale and boost revenue using technology.
Set up in 2019, Sideup, previously known as Voo, expanded its business model after rebranding.
It has since morphed into a one-stop shop that offers e-commerce solutions such as online payment gateways, marketing and business advisory services, and integration applications for sectors that include logistics, shipping and warehousing.
With Sideup, businesses have access to various e-commerce services and technology solutions, and can organise different tasks on a single platform. By helping business owners to solve challenges around these areas, the company allows them to focus on their core mission.
“The logistics space has a lot of challenges and we are on a mission to solve them … businesses don’t have a single place to access multiple courier providers and it led us to create Voo, which was initially a courier marketplace for the e-commerce sector,” Mr Rashed, 39, tells The National.
“The e-commerce sector is extremely fragmented for small businesses. You could either join a big platform [as a seller] and lose revenue to fees and commissions, or you could go alone and struggle to get access to services,” Mr Rashed says.
“We had the initial advantage of having a strong courier marketplace business [Voo], with clients who needed additional services.”
The company aims to empower micro, small and medium businesses, especially those selling products and services from remote locations such as villages or rural areas, or over social networking platforms and messaging apps.
“We intend to help entrepreneurs who have the potential but do not have enough resources or access to the infrastructure of large service providers,” Mr Rashed says.
“Even our name comes from the fact that we work side-by-side with our partners and our customers … to help them easily access whatever service they need to help their business grow up.”
With Sideup, e-commerce business owners simply need to choose what they need, and the start-up’s account managers work with them to ensure “industry-leading service delivery”, says Mr Rashed.
Egypt, the Arab world’s most populous country, is banking on technology and its start-up ecosystem to diversify its economy.
Venture capital funding in Egypt more than doubled to $307 million in the first half of 2022 from a year earlier, ranking it third in the Middle East and North Africa region, according to start-up data platform Magnitt.
The number of deals in the country grew by 22 per cent annually to 78 during the first six months of the year.
The e-commerce market in Egypt comes with its own challenges as it is booming. However, Sideup is committed to sticking to the sector and providing solutions.
“The e-commerce industry is still very uneven in our region, with a number of challenges yet to be solved … large players take off huge commissions from the margins of small businesses,” Mr Rashed says.
“Our focus will remain on the e-commerce industry, and we will continue to build solutions to allow small business owners to succeed and thrive.”
Egyptian e-commerce revenue is expected to grow at an annual rate of more than 18 per cent to $15.76 billion by 2027, from $6.85 billion this year, according to Statista.
In the e-commerce market, the number of Egyptian users is expected to jump to 84 million by 2027, with the average revenue per user set to reach $122.90.
Mr Rashed, who founded the company using his own funds, says it gave him the freedom to experiment with his own “disruptive ideas that eventually helped to build a fundamentally strong business”.
Earlier this month, Sideup raised $1.2 million in funding to drive plans to expand into Saudi Arabia, the Arab world’s biggest economy.
Various global and regional investors took part in the funding round, including Launch Africa VC, 500 Global, Riyadh Angels, Alex Angels, Al Tuwaijri Fund and Saudi angel investor Faisal Al Abdulsalam, the start-up says.
The company says it will use the new capital raised in Egypt to strengthen its existing position there and also invest in expanding and hiring new talent in Saudi Arabia.
“Our expansion has started with our entry into Saudi Arabia, where we are hiring, onboarding customers and partnering with new service providers,” Mr Rashed says.
“Over the next 12 months, we expect to enter at least two new markets in the MEA region.”
As part of its plans to boost its presence in Saudi Arabia, Sideup will relocate its headquarters to Riyadh.
“Saudi Arabia is quite similar to Egypt in many ways and gives us an opportunity to build on our experience from our home market. The kingdom is also start-up friendly, with a large market opportunity.”
“Being in Saudi Arabia also gives us access to new markets in the GCC, as well as the rest of Africa. The changes we have seen here are truly incredible and we are excited to be building the future of Sideup from here,” Mr Rashed says.
Mr Rashed says the company is self-sustaining and he has no plans to raise additional capital soon.
“We don’t want to chase valuations or unnecessary funding rounds, especially when we can build a financially sustainable business on our own. Success will follow us on its own as our foundation is rock-solid and basics are correct,” he says.
“At the moment we don’t have any intentions for fresh capital. We are cash-flow positive and are growing at 30 per cent monthly. This gives us sufficient runway to grow efficiently.”
Currently, Sideup serves more than 2,000 e-commerce businesses. It has achieved more than $500,000 in gross merchandise volume a month.
Its platform also allows merchants to gain access to new markets across 45 countries. It has entered into partnerships with industry leaders such as e-commerce platforms Zid, Zammit and Wuilt, payment services businesses Paytab, Cowpay and Paymob and logistics providers Aramex, J&T and iMile.
We are still very early in our journey and the MEA e-commerce ecosystem has a lot of untapped potential
Waleed Rashed,
founder and chief executive of Sideup
However, there are no plans to exit the business at the moment.
“Right now, we are only focused on building. We are still very early in our journey and the MEA e-commerce ecosystem has a lot of untapped potential,” Mr Rashed says.
Despite attaining success in the first few of years of its inception, Sideup has also faced its own share of challenges.
“We started our operations in Egypt, where for example, we have challenges around addresses and deliveries … that is why each of our customers have an account manager who ensures that they can be assured of a smooth delivery process.”
“Also, the region likes to have cash on delivery, and we are offering this facility. We pay our customers within 24 hours, to ensure that each of them has continued cash flow.”
Currently, Sideup has an 85 per cent delivery rate on the first attempt, which is a new standard for the industry, he says.
Q&A: Waleed Rashed, Sideup’s founder and chief executive
Where do you see yourself 10 years down the line?
We hope to have made a huge impact in the region’s e-commerce ecosystem by continuing to build solutions that matter to entrepreneurs.
Are you a risk-taker or a cautious entrepreneur?
I am a risk taker, with a certain amount of cautiousness. Previously I was a banker and left that industry because I was fascinated with solving logistics challenges. Today, we are solving challenges for an even larger industry — e-commerce.
If you could change one thing in your entrepreneurial journey, what would it be?
I don’t think there will be anything that I would like to change. Everything happens at the right time and it is important that we stay focused on our customers and our mission.
Are you on a hiring spree?
We are continuing to hire in both markets (Egypt and Saudi Arabia) in-line with our business needs. In Saudi Arabia, we plan to hire people to fill 10 positions over the next month.
What is your vision for the company?
We want to be a one-stop platform for anyone running an e-commerce business.
How has Covid-19 affected your business?
Covid-19 was an eye-opener for us and as people shifted more to e-commerce, it was evident that our platform could open numerous opportunities for them.
What is your mantra for success?
I previously worked in banking in the UAE and Qatar, before returning to Egypt to set up my own venture. I don’t have a technology background, but I have realised that with the right team, anything is possible in the start-up ecosystem.
COMPANY%20PROFILE
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The%20specs%3A%202024%20Mercedes%20E200
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The specs
Engine: 1.5-litre 4-cylinder petrol
Power: 154bhp
Torque: 250Nm
Transmission: 7-speed automatic with 8-speed sports option
Price: From Dh79,600
On sale: Now
The National's picks
4.35pm: Tilal Al Khalediah
5.10pm: Continous
5.45pm: Raging Torrent
6.20pm: West Acre
7pm: Flood Zone
7.40pm: Straight No Chaser
8.15pm: Romantic Warrior
8.50pm: Calandogan
9.30pm: Forever Young
UAE currency: the story behind the money in your pockets
Killing of Qassem Suleimani
Hurricanes 31-31 Lions
Wellington Hurricanes:
Tries: Gibbins, Laumape, Goosen, Fifita tries, Barrett
Conversions: Barrett (4)
Penalties: Barrett
British & Irish Lions:
Tries: Seymour (2), North
Conversions: Biggar (2)
Penalties: Biggar (4)
The specs
Engine: 4.0-litre V8 twin-turbocharged and three electric motors
Power: Combined output 920hp
Torque: 730Nm at 4,000-7,000rpm
Transmission: 8-speed dual-clutch automatic
Fuel consumption: 11.2L/100km
On sale: Now, deliveries expected later in 2025
Price: expected to start at Dh1,432,000
Specs
Engine: Dual-motor all-wheel-drive electric
Range: Up to 610km
Power: 905hp
Torque: 985Nm
Price: From Dh439,000
Available: Now
Biography
Her family: She has four sons, aged 29, 27, 25 and 24 and is a grandmother-of-nine
Favourite book: Flashes of Thought by Sheikh Mohammed bin Rashid
Favourite drink: Water
Her hobbies: Reading and volunteer work
Favourite music: Classical music
Her motto: I don't wait, I initiate
The specs
AT4 Ultimate, as tested
Engine: 6.2-litre V8
Power: 420hp
Torque: 623Nm
Transmission: 10-speed automatic
Price: From Dh330,800 (Elevation: Dh236,400; AT4: Dh286,800; Denali: Dh345,800)
On sale: Now
More on animal trafficking
Labour dispute
The insured employee may still file an ILOE claim even if a labour dispute is ongoing post termination, but the insurer may suspend or reject payment, until the courts resolve the dispute, especially if the reason for termination is contested. The outcome of the labour court proceedings can directly affect eligibility.
- Abdullah Ishnaneh, Partner, BSA Law
Why are asylum seekers being housed in hotels?
The number of asylum applications in the UK has reached a new record high, driven by those illegally entering the country in small boats crossing the English Channel.
A total of 111,084 people applied for asylum in the UK in the year to June 2025, the highest number for any 12-month period since current records began in 2001.
Asylum seekers and their families can be housed in temporary accommodation while their claim is assessed.
The Home Office provides the accommodation, meaning asylum seekers cannot choose where they live.
When there is not enough housing, the Home Office can move people to hotels or large sites like former military bases.
Electric scooters: some rules to remember
- Riders must be 14-years-old or over
- Wear a protective helmet
- Park the electric scooter in designated parking lots (if any)
- Do not leave electric scooter in locations that obstruct traffic or pedestrians
- Solo riders only, no passengers allowed
- Do not drive outside designated lanes
Places to go for free coffee
- Cherish Cafe Dubai, Dubai Investment Park, are giving away free coffees all day.
- La Terrace, Four Points by Sheraton Bur Dubai, are serving their first 50 guests one coffee and four bite-sized cakes
- Wild & The Moon will be giving away a free espresso with every purchase on International Coffee Day
- Orange Wheels welcome parents are to sit, relax and enjoy goodies at ‘Café O’ along with a free coffee
Honeymoonish
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Zayed Sustainability Prize
Specs – Taycan 4S
Engine: Electric
Transmission: 2-speed auto
Power: 571bhp
Torque: 650Nm
Price: Dh431,800
Specs – Panamera
Engine: 3-litre V6 with 100kW electric motor
Transmission: 2-speed auto
Power: 455bhp
Torque: 700Nm
Price: from Dh431,800
Pharaoh's curse
British aristocrat Lord Carnarvon, who funded the expedition to find the Tutankhamun tomb, died in a Cairo hotel four months after the crypt was opened.
He had been in poor health for many years after a car crash, and a mosquito bite made worse by a shaving cut led to blood poisoning and pneumonia.
Reports at the time said Lord Carnarvon suffered from “pain as the inflammation affected the nasal passages and eyes”.
Decades later, scientists contended he had died of aspergillosis after inhaling spores of the fungus aspergillus in the tomb, which can lie dormant for months. The fact several others who entered were also found dead withiin a short time led to the myth of the curse.
What the law says
Micro-retirement is not a recognised concept or employment status under Federal Decree Law No. 33 of 2021 on the Regulation of Labour Relations (as amended) (UAE Labour Law). As such, it reflects a voluntary work-life balance practice, rather than a recognised legal employment category, according to Dilini Loku, senior associate for law firm Gateley Middle East.
“Some companies may offer formal sabbatical policies or career break programmes; however, beyond such arrangements, there is no automatic right or statutory entitlement to extended breaks,” she explains.
“Any leave taken beyond statutory entitlements, such as annual leave, is typically regarded as unpaid leave in accordance with Article 33 of the UAE Labour Law. While employees may legally take unpaid leave, such requests are subject to the employer’s discretion and require approval.”
If an employee resigns to pursue micro-retirement, the employment contract is terminated, and the employer is under no legal obligation to rehire the employee in the future unless specific contractual agreements are in place (such as return-to-work arrangements), which are generally uncommon, Ms Loku adds.
About Karol Nawrocki
• Supports military aid for Ukraine, unlike other eurosceptic leaders, but he will oppose its membership in western alliances.
• A nationalist, his campaign slogan was Poland First. "Let's help others, but let's take care of our own citizens first," he said on social media in April.
• Cultivates tough-guy image, posting videos of himself at shooting ranges and in boxing rings.
• Met Donald Trump at the White House and received his backing.
BMW M5 specs
Engine: 4.4-litre twin-turbo V-8 petrol enging with additional electric motor
Power: 727hp
Torque: 1,000Nm
Transmission: 8-speed auto
Fuel consumption: 10.6L/100km
On sale: Now
Price: From Dh650,000
Not Dark Yet
Shelby Lynne and Allison Moorer
Four stars
Scoreline
Ireland 16 (Tries: Stockdale Cons: Sexton Pens: Sexton 3)
New Zealand 9 (Pens: Barrett 2 Drop Goal: Barrett)
GAC GS8 Specs
Engine: 2.0-litre 4cyl turbo
Power: 248hp at 5,200rpm
Torque: 400Nm at 1,750-4,000rpm
Transmission: 8-speed auto
Fuel consumption: 9.1L/100km
On sale: Now
Price: From Dh149,900
COMPANY%20PROFILE
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Dhadak 2
Director: Shazia Iqbal
Starring: Siddhant Chaturvedi, Triptii Dimri
Rating: 1/5
Killing of Qassem Suleimani
The specs
Engine: 4.0-litre flat-six
Torque: 450Nm at 6,100rpm
Transmission: 7-speed PDK auto or 6-speed manual
Fuel economy, combined: 13.8L/100km
On sale: Available to order now
COMPANY%20PROFILE%20
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US tops drug cost charts
The study of 13 essential drugs showed costs in the United States were about 300 per cent higher than the global average, followed by Germany at 126 per cent and 122 per cent in the UAE.
Thailand, Kenya and Malaysia were rated as nations with the lowest costs, about 90 per cent cheaper.
In the case of insulin, diabetic patients in the US paid five and a half times the global average, while in the UAE the costs are about 50 per cent higher than the median price of branded and generic drugs.
Some of the costliest drugs worldwide include Lipitor for high cholesterol.
The study’s price index placed the US at an exorbitant 2,170 per cent higher for Lipitor than the average global price and the UAE at the eighth spot globally with costs 252 per cent higher.
High blood pressure medication Zestril was also more than 2,680 per cent higher in the US and the UAE price was 187 per cent higher than the global price.
HWJN
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Results
Final: Iran beat Spain 6-3.
Play-off 3rd: UAE beat Russia 2-1 (in extra time).
Play-off 5th: Japan beat Egypt 7-2.
Play-off 7th: Italy beat Mexico 3-2.
The specs
Engine: 2.2-litre, turbodiesel
Transmission: 6-speed auto
Power: 160hp
Torque: 385Nm
Price: Dh116,900
On sale: now
How has net migration to UK changed?
The figure was broadly flat immediately before the Covid-19 pandemic, standing at 216,000 in the year to June 2018 and 224,000 in the year to June 2019.
It then dropped to an estimated 111,000 in the year to June 2020 when restrictions introduced during the pandemic limited travel and movement.
The total rose to 254,000 in the year to June 2021, followed by steep jumps to 634,000 in the year to June 2022 and 906,000 in the year to June 2023.
The latest available figure of 728,000 for the 12 months to June 2024 suggests levels are starting to decrease.
Key facilities
- Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
- Premier League-standard football pitch
- 400m Olympic running track
- NBA-spec basketball court with auditorium
- 600-seat auditorium
- Spaces for historical and cultural exploration
- An elevated football field that doubles as a helipad
- Specialist robotics and science laboratories
- AR and VR-enabled learning centres
- Disruption Lab and Research Centre for developing entrepreneurial skills
COMPANY%20PROFILE
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