-24 July, 2017
App Mahal, the groundbreaking Palestinian mobile application developer, announces that it has completed a $4M round of financing. Following the initial success with AppMahal – a social app discovery platform – the company launched a second and highly successful product called Sila.
Sila is the first instant messaging platform aimed at answering the communication needs of the Arab world. The investment round was led by Siraj Fund Management Company, a subsidiary of Massar International, the developer of Rawabi; the first Palestinian planned city.
This round attracted substantial interest from regional investors.
The capital raised will be used to rapidly expand Sila’s footprint throughout the Middle East and North Africa, and will enable the company to accelerate the development of its platform, adding more key and unique features to enhance its users’ experience and create a comprehensive, commerce-based eco-system.
Since its launch four months ago, the application has been received with tremendous enthusiasm throughout the MENA region. Currently, Sila has more than a million users who are communicating with friends and families in countries such as Egypt, Jordan, Tunisia, UAE, among others in the region.
User ratings remain high, with an average of 4.6 in the Google store, further demonstrating users’ high satisfaction with the product. The company’s team is proud of their close interaction with Sila’s users, which has enabled them to build a tailor-made platform that puts the needs of Arabic speaking consumers first.
Commenting on the investment, Mona Haddad, CEO of AppMahal Palestine said: “We are extremely excited to have completed this round of financing.
The funds and support from our strong group of investors will position us exceptionally well for executing our vision of providing the Arabic speaking users with a unique experience in a platform that meets all of their needs – from correspondence with loved ones to communication with a wide variety of service providers.”
Abdallah Sabat, Managing Partner of Siraj Fund Management Company, said: “The investment in AppMahal to support Sila’s growth is a perfect fit for our strategy of investing in companies with high regional ambitions and strong, experienced teams. I am confident Sila is on its way to become the leading communications platform in the Arab world”.
AppMahal was founded in 2014 by a team of seasoned online entrepreneurs and developers. The company’s main goal is to develop highly engaging applications adapted to the unique needs of Arab speaking users, through innovative and technologically advanced solutions at the cutting edge of global trends.
Its first product, self-titled AppMahal, is a social mobile platform for application discovery.
It gained notable success with millions of users making it their go-to for application search. Sila is the company’s second product, which is intended to become the leading social interaction and chat platform in the Arab world.