A year after an advertisement featured Mahmoud El Leithy, a shaabi showman, driving throughout Cairo, Egypt in a tuk-tuk while singing for the ride-hailing company Halan may have done the trick. The company is pushing past all expectations and is becoming one of Egypt's biggest success stories by providing on-demand ride-hailing for both two and three-wheeled cars.
Remarkably clocking over 3 million trips in its first year, the app’s coverage has also expanded to include more of Egypt’s governorates and now even serves parts of Sudan. The app was born as a result of how CEO Mounir Nakhla and CTO Ahmed Mohsen identified a significant gap in the market. Joining 10 months later as co-founder and Chief Commercial Officer was Mohamed Aboulnaga and Dina Ghabbour as Chief Marketing Officer. As for their investors, the list includes Battery Road Digital Holding and Algebra Ventures.
Now, we’ve seen several ride-hailing apps try (and fail) to break the dominance of the ‘big two’, but Halan hasn’t tried to do that, instead offering a service and price-point that serves a different segment of Egyptians, who mostly live on the outskirts of Cairo and all over the country. As it stands, the app has been downloaded over 500,000 times within a year and stands as number 1 on App Annie.
Halan CEO, Mounir Nakhla said: "I launched Halan to solve a real problem, to serve a real need in the market. While other people were looking at informal and rural communities as spaces full of challenges and poverty, my experience with micro-finance in underserved markets showed me how much wealth and opportunity there is."
Read more here
Join us in Bangkok the 19th to the 22nd of March for the Property Portal Watch Conference.