8. But I really wanted to join the startup world. What does that world look like? Since its launch in 2012, the company has raised 52M USD in a Series A and Series B round of funding, making it the first company in the region to secure money from top Silicon Valley VC funds. There are just a couple of things that aren’t right. Alejandro: I love it. Actually, it was already spent. Basically, we enable eCommerce through [19:19]. : It was close to Christmas, and I was stressed. : Got it. They’ve been helping me. Fetchr helps local merchants and global brands build, launch and grow profitable eCommerce businesses with an easy to use proprietary shipping and logistics solution. But on the Series A, that’s when you guys finally open it up to sophisticated folks, and I know that you had quite an interesting story there that happened with a VC the last minute. You can always see the good side of it, and often, it’s depicted as such like you need to be passionate, blah, blah, blah. It was very interesting, to say the least. If you had that chance to have that conversation and give that younger Idriss one piece of advice before launching a business, what would that be, and why knowing what you know now? You can see that it’s even higher in most of the countries: 90 to 92%. And if you got any value either from this episode or from the show itself, share it with a friend. I went there and met somebody who became my co-founder. We started literally bouncing off ideas on what should be the next startup. Idriss, for the folks that are listening, what is the best way for them to reach out and say hi? We want to change that and make the shipping experience as delightful as shopping. Alejandro: I hear you. What does that world look like? I’m @idriss_alrifai at Twitter. The way it works when you buy something online is that you literally describe your address in the address form based on the landmark. We felt that there was something that was disconnected from reality, so instead of that, we’re like, “I don’t care about your address. I’m like, “Okay. Big mistake. Idriss Al Rifai is an entrepreneur passionate about disrupting the Middle East retail market with technologies and customer-centric services that enable the growth of e-commerce in the region. We do not care about where you live. That’s one. Thanks for having me. It was my second loan back in France. : Key ingredients. : It’s a world where addresses are irrelevant. At the end of the day, you have no other life than this. We typically have teams from different countries that have different agendas. 2) Cash on delivery. Let’s put the facts, and then let’s put 80% of luck that came into this because let’s not pretend everything is because of hard work. Also, remember, if you need any help, whether it is with your fundraising efforts or with selling your business, you can reach me at alejandro@pantheraadvisors.com. We are however still very far from the level of saturation you can experience in the US or in other more mature markets. I did a couple of classes. Idriss, thank you so much for being on the DealMaker’s show today. He holds degrees from the Institut d’Etudes Politiques of Paris (Sciences Po) and the University of Chicago’s Booth School of Business. I’ve been deployed in 13 countries, mostly across Africa. But, at the end of the day, we hit it off. As crazy as it seems, whether you’re talking about Dubai, Pakistan, Saudi Arabia, Nigeria, Egypt, there is literally no address. But if you look at emerging market as a whole, you’re talking about 90% emerging market. Basically, we enable eCommerce through [19:19]. Idriss Al Rifai: First, you’re an entrepreneur, Alejandro. Today, we have a very exciting founder. I always try to carve out some time for this! I liked it, but I didn’t love it. Hello everyone, and welcome to the DealMakers show. There are a couple of things that are not 100% correct, but what I love about it is the fact that you do not ask what you’re going to do. Alejandro: What did this experience teach you about dealing with uncertainty? Then, my second mistake was I thought that having NEA would make everything easy. I found out it was completely unfair. We got refused. You do understand the competition, so you have an edge here, but you have quite a lot of people who have the same knowledge. So, it hurts quite a lot of your cash flow, so think about it. If you can leave a review as well, that would be fantastic. Honestly, I started this company because I thought that nobody listened to me. Idriss Al Rifai: Honestly, it was not that positive. Idriss has developed and optimized a last mile delivery solution specifically for the e-commerce needs and requirements in the Middle East. I hit it off with Scott and a couple of partners. Yes, our goal is to expand across the GCC and other key markets that face similar issues. I know that on the fundraising, it was a bit shaky for you guys, and I know that, as you were saying, on the seed round, you got the friends and family, so I’m sure the holiday dinners turned a bit to the valuation of the business. Even the words of Elon Musk, the guys work 17 hours a day, seven days a week. Right? Fetchr is also the first company in MENA to raise $52M in funding to date ($11M Series A and $41M Series B), led by a top tier Silicon Valley VC, New Enterprise Associates. I really love what consulting gives you, which is very much being able to break big problems into small problems and then tackle those. Nobody understands. Let me come back to this. In 2013, he founded Fetchr, formerly MENA360, which has evolved to become a full end-to-end logistics solution, backed by technology, for e-commerce companies, regional players, social media sellers as well as SMBs in the MENA. What were you doing in the Special Forces? This is how things are being delivered. As crazy as it seems, whether you’re talking about Dubai, Pakistan, Saudi Arabia, Nigeria, Egypt, there is literally no address. عرض ملف Idriss Al Rifai الشخصي على LinkedIn، أكبر شبكة للمحترفين في العالم. , and that kind of stuff. This opened up the doors for other startups and entrepreneurs to receive funding from outside the region. Company: Fetchr. That got sorted for a few months. Big mistake. Ecommerce in the Middle East is still nascent – local and international brands have a challenging time navigating the market in which inefficient processes and the lack of post addresses lead to long delivery times and high return rates. We didn’t have enough money to pay till the end of the month. Subscribe to our free email updates. Two, to go back to your point, I think breaking big problems into small ones is one. We’ll make our first investment.”. They were Scott and all these guys. Idriss Al Rifai: It was close to Christmas, and I was stressed. They’ve been with me since we crossed paths. Now, you got this experience, and you were with Marka. You can always see the good side of it, and often, it’s depicted as such like you need to be passionate, blah, blah, blah. Idriss Al Rifai . It basically gave you the insights into what hypergrowth looks like, how to approach it, and so forth. There is quite a lot of emotional intelligence in it. Now, you’ve been at it for quite a while. That’s what we do. Al Rifai has developed and optimised a last mile delivery solution specifically for the e-commerce needs and requirements in the Middle East. Or the guys that have been successful now, but have failed so many times. It’s a pleasure. Then, after consulting, you decided to join the world of startups, and that was with Marka. Why do the logistic companies have to go with a physical address that does not move while we will find you wherever you are. How do you really get them to trust you and to build that type of relationship to say, “You know what? My business is in careers. What are the growth areas currently for your industry? They did it; they took the lead.


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