Safr, an Iraqi travel and tourism startup, along with its app Safrat, has been acquired by a regional investor. The platform provides a comprehensive range of services, including airline tickets, hotel bookings, and tailored travel packages for both private and public sectors.
Safr was founded in 2020 by Ahmed Qasim, and the company managed to secure over 50 contracts in its first year despite challenges posed by the pandemic.
Safr acquisition and expansion
Recognized by Iraq’s Ministry of Culture and Tourism, Safr works with over 100 global partners in major tourist destinations like the UAE, Turkey, Spain, and Lebanon. In 2023, it launched the Safrat app, venturing into the consumer market.
This expansion was fueled by funds raised to develop a centralized travel services platform, increase staff to 40 employees, and relocate to a larger headquarters. Safr also facilitates visas and entrance permits for visitors to Iraq.
“We are proud that an Iraqi startup has succeeded in attracting investment and achieving a full acquisition from a regional company in such a short period of time. This is a remarkable achievement compared to startups in Iraq and the Arab world,” said Ahmed Qasim, the company’s founder.
Growing Iraqi Startups
The Iraqi startup scene has been gaining momentum, with the travel market seeing rapid growth. The Sindbad platform, specializing in travel services, secured USD 1.5 million in funding from an Emirati investor in January 2023. Additionally, the market is anticipating the launch of the Travel Zone app in the coming months.
Meanwhile, Miswag, one of Iraq’s leading e-commerce platforms, was acquired by the International Smart Card Company (better known as Qi or QiCard) in a seven-figure deal. These recent acquisitions highlight the increasing investment and interest in Iraq’s growing digital and travel sectors.
