Bluworks raises $1 million Seed led by A15, Enza Capital and Beltone Venture Capital

Wamda reported on 22 November that Bluworks has raised a $1 million seed round. A15, Enza Capital and Beltone Venture Capital led the round, and ACASIA Ventures participated. Strategic angel investors also took part.

What the company does

Bluworks provides workforce management software for blue-collar employees. It covers scheduling, attendance, payroll, real-time salary disbursement and compliance with Egyptian regulations. Hussein Wahdan and Farah Osman founded the company in 2022, and Wahdan is CEO. It is based in Cairo and, for now, serves the Egyptian market.

Plans

A $1 million pre-seed round in April 2024 was led by Khawarizmi Ventures, with Camel Ventures, Acasia Ventures and angel investors joining. The funding will help deepen penetration of Egypt's SME market, form partnerships for additional services and expand across the Middle East and North Africa. Hussein Wahdan, chief executive, said: "We've proven the strength of our model in Egypt."

Bassem Raafat, principal at A15, said the firm has known the team for a few years and has been consistently impressed by their focus and execution. Abdelrahman Hassan, principal at Enza Capital, said labour is the backbone of African economies but remains underserved by technology.

At a glance

• Company: Bluworks
• Raised: $1 million
• Round: Seed
• Leads: A15, Enza Capital, Beltone Venture Capital
• Also investing: ACASIA Ventures, angel investors
• Founded: 2022
• Based in: Cairo, Egypt
• Markets: Egypt, with MENA expansion planned