Credit cards are hard to come by in Egypt. Only 4.8 million credit cards, or less than 5% of Egypt’s 104 million people, are available to be used to service that population, according to the Central Bank of Egypt. Due to wage reductions, an increase in unemployment and underemployment, and a general slowdown in the…
Pylon, an Egyptian infrastructure management business for emerging market water and energy utilities, has raised a $19 million seed round to advance water and electricity software. Endure Capital of the United States led the round, which was a mix of debt and equity, and was backed by British International Investment (previously CDC Group), the UK…
The Alexandria Angels Network, along with members of MED Angels and AUC Angels, Cubit Ventures, Challenge Fund, EdVentures, Falak Startups, and Cairo Angels, led a $1.2 million Series A fundraising round for Egypt-based edtech Sprints. “The organization has successfully given 20,000 learning sessions in the last two years.” Sprints’ co-founder and CEO, Ayman Bazraa, stated,…
Egypt’s EYouth targets international growth after impacting 750k young learners Written By TOM JACKSON Egyptian ed-tech startup EYouth, which provides online interactive educational programmes for individuals aged between 18 and 35, is targeting international growth after seeing more than 750,000 people complete its courses so far. Founded in 2016 and taken online in 2018, EYouth designs and…
Egyptian car parts marketplace Odiggo raises $2.2m expansion funding Written By TOM JACKSON Egyptian startup Odiggo, a digital marketplace for automotive spare parts, has closed a US$2.2 million funding round to help it continue to expand into new markets. Founded in 2018 by Ahmed Omar and Ahmed Nasser, Odiggo links customers with vendors in order to purchase…
Founders of tech startups based in Egypt and Nigeria have been accepted into the global Endeavor network, gaining access to various support services to help their companies scale. Written by TOM JACKSON The Endeavor initiative works to catalyze long-term economic growth by selecting, mentoring, and accelerating the best high-impact entrepreneurs worldwide, and has accepted a host…
MAGNiTT has announced the launch of its first quarter of 2021 reports, which shows Egypt among the top three in MENA regions with the highest startup investment rates. MAGNiTT has announced the launch of its first quarter of 2021 reports, which cuts across the eCommerce, food and beverage, fintech, delivery and logistics, and healthcare sectors….