Friday, September 24

Tag: Egypt

Egyptian startup Capiter raises $33M to expand B2B e-commerce platform across MENA
ecommerce, Start-ups

Egyptian startup Capiter raises $33M to expand B2B e-commerce platform across MENA

Funding startups that help manufacturers and sellers distribute products and merchants access them on a single platform keeps increasing across Africa. Today, Cairo-based B2B e-commerce startup Capiter continues that trend by raising a $33 million Series A round. The investment was co-led by Quona Capital and MSA Capital. Other participating investors include Savola, Shorooq Partners, Foundation Ventures, Accion Venture Lab, and Derayah Ventures. Capiter was launched in July 2020 by Mahmoud Nouh and Ahmed Nouh. Speaking with TechCrunch, CEO Mahmoud Nouh says Capiter solves problems around reach and insights for suppliers and manufacturers. Continue reading
Egyptian fintech MNT-Halan lands $120M from Apis Partners, DisrupTech and others
Africans in Tech, Fintech, Start-ups

Egyptian fintech MNT-Halan lands $120M from Apis Partners, DisrupTech and others

More than 70% of Egypt’s young and fast-growing population of over 100 million is financially underserved, despite mobile penetration exceeding 90%. Traditional banks often overlook this segment because of their spending power or financial status, and fintechs have seized the opportunity to cater to their needs. One such fintech is MNT-Halan, and today, the company, which describes itself as “Egypt’s leading fintech ecosystem,” is announcing that it has closed a $120 million investment. The investors backing MNT-Halan include private equity firms Apis Growth Fund II, Development Partners International (DPI) and Lorax Capital Partners, as well as VCs like Middle East Venture Partners, Endeavor Catalyst and DisruptTech. Continue reading
UNESCO awards International Literacy Prizes to Innovative Projects Boosting Literacy in Covid Times
Education, Events, Health Tech

UNESCO awards International Literacy Prizes to Innovative Projects Boosting Literacy in Covid Times

The awards will be presented during a virtual International Conference entitled “Literacy for a human-centred recovery: Narrowing the digital divide PARIS, France, September 4, 2021/APO Group/ -- UNESCO has selected six outstanding literacy programmes from Côte d’Ivoire, Egypt, Guatemala, India, Mexico and South Africa as winners of its International Literacy Prizes, awarded on the occasion of International Literacy Day (8 September). During the COVID crisis, these programmes continued to help students learn to read and write through accessible technologies. "These programmes have literally changed the lives of thousands of children, young people, women and marginalised adults. Literacy empowers individuals and it expands people’s capabilities and freedom of choice...
MaxAB extends Series A to $55M, largest ever by an Egyptian startup
ecommerce, North Africa, Start-ups

MaxAB extends Series A to $55M, largest ever by an Egyptian startup

MaxAB, an Egyptian eCommerce platform that serves food and grocery retailers, has raised an additional $15M from existing investors bringing its total Series A funding to $55M, the largest ever by an Egyptian startup. In addition, it announced its acquisition of WaystoCap, a Morocco-based e-commerce and distribution platform that connects retailers with suppliers across Africa.  Founded in 2015 by Niama El Bassunie, Mehdi Daoui, Anis Abdeddine and Aziz Jaouhari Tissafi, WaystoCap was originally a cross-border trade platform for transacting business goods in Africa. Two years later, the company got into the 2017 Y Combinator’s Winter batch, making it the first company accepted from Morocco. It subsequently raised a $3 million seed round. Continue reading
Egyptian entrepreneurs join global Endeavor network
Apps, East Africa

Egyptian entrepreneurs join global Endeavor network

Mounir Nakhla, co-founder of Egyptian ride-hailing startup Halan, and the three co-founders of mass transit system Swvl have been chosen to join the global Endeavor network, offering access to mentorship and acceleration services. The global Endeavor initiative launched in Nigeria and Kenya last year, and has accepted a host of African entrepreneurs into its network in recent months. The organisation works to catalyse long-term economic growth by selecting, mentoring, and accelerating the best high-impact entrepreneurs worldwide. It supports entrepreneurs that have passed through the initial startup phase and demonstrate the potential for rapid expansion and scale.  At its most recent International Selection Panel (ISP) in San Fra...