Category: Startups

  • Fintech Kuwait’s startup Ajar Online secures second round of investment

    Fintech Kuwait’s startup Ajar Online secures second round of investment

    Ajar’s Online has closed its second round of investment since 2016, led by Dubai-based venture firm BECO Capital, and follows the investment they secured from Sharq Ventures.

    The cloud-based service enables tenants to submit rent online by clicking on SMS, and email links are automatically sent to their devices at the beginning of every month. This quick and secure online payment system enables tenants to make their payments from any location thus saving them time and hassle.Fintech Kuwait's startup Ajar Online secures second round of investment

    At the same time, property owners enjoy the benefit of efficient payment collection that simplifies the management of their properties.

    Ajar online CEO Shaheen Alkhudari is optimistic about the company’s future. In a statement, he said, “We are aiming to lead the revolution in property management and online payments in the real estate.”

    Shaheen is confident of helping real estate investors, and owners efficiently manage their multiple properties with this rent collection solution. Ajar Online was founded by its CEO Shaheen after he encountered the frustration firsthand of paying the rent manually using traditional methods.

    As a tenant, Shaheen narrates how he suffered the frustration of chasing the landlords around, getting stuck in bank queues, and the difficulty of carrying or storing paper receipts after making the payment. Apparently, landlords also suffer the same pains in equal measure.

    After researching real estate operations based on these problems, Shaheen finally turned his idea into reality by working on the Ajar online system and finally launching its first version to the market in late 2015. Ajar Online is continuously working to improve its system and to even partner with other platforms such as banks.

  • Take Answers: A Quora-like Consultancy Service Mobile App

    Take Answers: A Quora-like Consultancy Service Mobile App

    Connecting startups with more than 450 top-notch experts, the Take Answers App was recently launched to help entrepreneurs find expert answers to their questions from the comfort of their mobile phones.

    “This is a Q&A platform that helps businesses get quick and solid expert advice from the comfort of their mobile devices,” said Take Answers Founder Said Baaghil.

    A reputable brand and marketing consultant, author, and public speaker, Baaghil hopes to empower startups and SMEs, helping them access the right advice to improve their business operations and competitiveness.

    “Changing and impacting the global economy is only possible through capitalizing on our individuality as creative thinkers and doers and investing in innovative business ideas rather than nationalistic pride,” said Baaghil, adding that he hopes to improve the lives of entrepreneurs through expert business guidance on his app.

    Available on both the App store and Google Play, Take Answers features an easy interface for both clients and experts, where the former posts a question for a minimal charge, selects a response category, and chooses the right experts to provide an answer to the question.

    Unlike search engines and knowledge bases, Take Answers does not give general information or advice but gives detailed answers in a two-way conversation, Baaghil added. Clients can also get a second, third, or fourth opinion from other experts to validate their strategy.

    Experts are pre-approved through a rigid vetting process that could take several days or weeks. All experts must maintain high ratings and reviews to remain on the platform, explained Baaghil.

  • ‘It’s time to utilize tech for better healthcare services’ Said Tabibi 24/7 CEO

    ‘It’s time to utilize tech for better healthcare services’ Said Tabibi 24/7 CEO

    As the tech breakthrough is invading each detail in our daily life, healthcare experts see that it’s high time to utilize tech for better healthcare industry as well.

    An Egyptian pediatrician has started his journey more than six years ago in order to utilize technology in his Cairo-based start-up Tabibi 24/7.

    Talking to the passionate founder and pediatrician, Khalil Abdel khalek, he explained that the healthcare industry in the most populous country of Egypt is in a dire need to be more organized and user-friendly to both patients and physicians themselves.

    “We see a major community problem when some patients resort to the nearest pharmacies or ask their families for medical advice. This usually does not yield an accurate diagnosis and delays the discovery of illnesses at early stage,” Abdel Khalek said.

    Tabibi 24/7 is a full-integrated healthcare service that can be at your doorstep either by calling their hotline or through booking via its online portal.

    The idea of the start-up is to be innovative in dealing with each case, rather than the traditional long system of medical care in Egypt.

    “There is a wide array of innovative services such as vaccinations and lab test services at home, electronic medical records, sports and nutrition programs including physical and psychological preparation of children and adults, home care for the elderly or patients who have just left the hospital,” Abdel Khalek added.

    Through his experience with the healthcare industry, Abdel Khalek said that linking each family member to an e-report medical system does help the whole medication process become more accurate and easier.

    He notes: “Each member in Tabibi 24/7 services can easily submit his/her details on the website, and follow up his/medical history.”

    Reaching more than 100,000 patients, the Egyptian healthcare startup is offering home examinations by family doctors and pediatrician, aiming at facilitating the healthcare process, saving time and supporting easier communication between doctor and patient.

    The team comprises of 40 practitioners who receive regular advanced training that keeps them ahead in today’s medicine.

    Mohamed Alaa, Tabibi 24/7’s family medicine specialist adds: “Building bonds of trust and credibility between the family doctor and the patient is the main pillar of the doctor – patient relationship.

    “Patients appreciate and understand the importance of this relationship, although some cases would need a transfer to a specialist or to stay at a hospital. At such times the patient and his/her parents always feel safe when consulting or dealing with his family doctor. This is unlike specialized doctors who temporarily deal with the patient,” Alaa added.

  • Souqalmal.com Raises $10 Million in Series B Funding

    Souqalmal.com Raises $10 Million in Series B Funding

    The Dubai headquartered finance comparison website, Souqalmal.com, raised USD $10 million in Series B funding from GoCompare, a UK based financial services provider.

    GoCompare Group plc, which operates the highly successful UK comparison website GoCompare, joins co-investor UAE Exchange Group (UX Holdings Limited) and lead investor Saudi-based Riyad TAQNIA Fund (RTF).

    Ambareen Musa, CEO & Founder of Souqalmal.com said, “We’re the third company in the region to bring in a strategic international player.” She added that this is proof that the region is an attraction point for international players who are acquiring companies to penetrate the market.

    In March, e-commerce giant Amazon acquired Souq.com, the region’s leading e-commerce website for $580 million and in August, DiDi Chuxing, China’s largest ride-hailing firm, invested in Careem.

    Ambareen Musa is the CEO and founder of Souqalmal.com. Before founding Souqalmal.com in 2012, Musa set up the consulting arm of MasterCard Middle East and Africa. Previously Musa held had various roles including marketing, financial literacy, customer advocacy and e- commerce for GE’s financial arm, GE Money. She led the first online financial literacy initiative in the U.K., Moneybasics.co.uk., later relocating to the Middle East in 2008 where she consulted for Bain & Company Middle East, focusing on financial services projects such as growth strategies for banks in the region.

  • Amazon Web Services To Open Its Data Centers in the Middle East By Early 2019

    Amazon Web Services To Open Its Data Centers in the Middle East By Early 2019

    Amazon Web Services (AWS) announced that it plans to open an infrastructure region in the Middle East by early 2019. The new AWS Middle East (Bahrain) Region will consist of three Availability Zones at launch.

    Currently, AWS provides 44 Availability Zones across 16 infrastructure regions worldwide, with another 14 Availability Zones, across five AWS Regions in China, France, Hong Kong, Sweden, and a second GovCloud Region in the US expected to come online by the end of 2018.

    AWS also announced it will launch an AWS Edge Network Location in the United Arab Emirates (UAE) in the first quarter of 2018. This will bring Amazon CloudFront, Amazon Route 53, AWS Shield, and AWS WAF to the region and adds to the 78 points of presence AWS has around the world.

    “As countries in the Middle East look to transform their economies for generations to come, technology will play a major role, and the cloud will be in the middle of that transformation,” said Andy Jassy, CEO, Amazon Web Services, Inc. “Some of the most gratifying parts of operating AWS over the last 11 years have been helping thousands of new companies get started, empowering large enterprises to reinvent their customer experiences, and allowing governments and academic institutions to innovate for citizens again. We look forward to making this happen across the Middle East.”

    Amazon is guided by four principles: customer obsession rather than competitor focus, passion for invention, commitment to operational excellence, and long-term thinking. Customer reviews, 1-Click shopping, personalized recommendations, Prime, Fulfillment by Amazon, AWS, Kindle Direct Publishing, Kindle, Fire tablets, Fire TV, Amazon Echo, and Alexa are some of the products and services pioneered by Amazon.

    For a more than a decade, Amazon Web Services has been the world’s most comprehensive and broadly adopted cloud platform. AWS offers over 90 fully featured services for compute, storage, networking, database, analytics, application services, deployment, management, developer, mobile, Internet of Things (IoT), Artificial Intelligence (AI), security, hybrid and enterprise applications, from 44 Availability Zones (AZs) across 16 geographic regions in the U.S., Australia, Brazil, Canada, China, Germany, India, Ireland, Japan, Korea, Singapore, and the UK. AWS services are trusted by millions of active customers around the world monthly — including the fastest growing startups, largest enterprises, and leading government agencies — to power their infrastructure, make them more agile, and lower costs.

    AWS Investing in the Middle East

    AWS is growing its presence in the Middle East bringing offices, staff, education, training, startup support, and other investments to the region. In January 2017, AWS opened offices to serve its rapidly growing customer base with a presence in Dubai, UAE and Manama, Bahrain. These offices have been established with teams of account managers, solutions architects, partner managers, professional services consultants, support staff, and various other functions for customers to engage with AWS.

    Another investment AWS is making for its customers in the Middle East, and around the world, is to run its business in the most environmentally friendly way. An important criteria in launching the AWS Middle East (Bahrain) Region is the opportunity to power it with renewable energy. AWS chose Bahrain in part due to the country’s focus on executing renewable energy goals and its proposal to construct a new solar power facility to meet AWS’s power needs. The Bahrain Electricity and Water Authority expects to bring the 100 MW solar farm online in 2019, making it the country’s first utility-scale renewable energy project.

    AWS also announced that it is supporting the advancement of technology education across the Middle East making AWS Training and Certification programs available to customers. In the education sector, AWS is supporting the development of technology and cloud computing skills at local universities through the AWS Educate program, providing students and educators with the resources needed to accelerate cloud-related learning. This program is now available for students attending institutions such as King Abdullah University of Science and Technology in Saudi Arabia, the Higher Colleges of Technology in the UAE, Bahrain Polytechnic, University of Bahrain, as well as Oman College of Management and Technology, the Jordan University of Science and Technology, and many others across the region.

    To support the growth of new business, AWS works with incubators and accelerators in the Middle East to provide resources to startups through the AWS Activate program.  In Saudi Arabia, AWS works with the Badir Program for Technology Incubators and Accelerators at King Abdulaziz City for Science and Technology (KACST) to provide startups with access to technology resources as well as expert advice, education, and training to help promote Saudi youth entrepreneurship and grow new businesses in the Kingdom. To help new businesses across the Middle East go global, AWS also works with a number of local and international accelerators and incubators active in the region such as AstroLabs in the UAE, Cloud 10 Scalerator in Bahrain, as well as 500 Startups, Startupbootcamp, and Techstars, providing training, AWS credits, in-person technical support, and other benefits.

    Middle Eastern Organizations Increasingly Moving to AWS

    Organizations across the Middle East – in UAE, Saudi Arabia, Kuwait, Jordan, Egypt, Bahrain, and other countries – are increasingly moving their mission-critical applications to AWS.  Startups in the region choosing AWS as the foundation for their business include Alpha Apps, Anghami, Blu Loyalty, Cequens, DevFactory, Dubizzle, Fetchr, Genie9, Mawdoo3.com, Namshi, OneGCC, Opensooq.com, Payfort, Tajawal, and Ubuy as well as Middle Eastern Unicorn Careem, the leading ride-hailing service in the MENA region. Careem runs all of its operations on AWS and over the past five years has grown 10 times its current size each year. “It is great news that AWS is opening a Region in the Middle East,” said Magnus Olsson, chief experience officer and co-founder of Careem. “We have been all-in on AWS since we launched in 2012 and using the scalability of the cloud has helped us to cope with rapid growth. After starting in Dubai, we now serve over 12 million commuters in 80 cities across the Middle East and North Africa, including Turkey and Pakistan – this would not have been possible without AWS. The new AWS infrastructure Region in the Middle East gives us the opportunity to experiment with new Internet of Things (IoT) technologies that, in the future, will give us the ability to run a fleet of self-driving Careem cars comfortably and safely taking passengers to their destinations.”

    Some of the Middle East’s most historic and established enterprises are moving mission critical applications to AWS. Enterprises such as Actel, Al Tayer Group, Batelco, flydubai, Hassan Allam, Silah Gulf, Union Insurance, and the United Arab Shipping Company are using AWS to drive cost savings, accelerate innovation, and speed time-to-market. One successful business that used AWS to grow is eCommerce provider SOUQ.com. “AWS has been key to our success throughout our journey of exponential growth in the MENA region”, said Ronaldo Mouchawar, CEO and Co-Founder of SOUQ.com. “Businesses in the region need robust technologies to both scale rapidly and provide world class service to their customers. With innovation being the main focus on the region’s national agenda, the advent of the world’s largest provider of cloud computing in the region is great news for everyone. This will help support the growing demand for cloud technologies as well as accelerate business expansions and success, regionally and around the world.”

    Another enterprise using AWS is Middle East Broadcasting Center (MBC), the largest private media company in the Middle East, delivering Arab language content to over 150 million people across the Middle East and North Africa. “AWS has been critical in our digital transformation initiatives,” said Joe Igoe, MBC’s Group Director of Technical Operations. “Knowing we will have AWS infrastructure close to our viewers is invaluable for us.  AWS has helped us speed up innovation and rapidly expand into a wider range of scalable and reliable digital services, such as our Video on Demand platform, Shahid.net. During the holy month of Ramadan, TV viewership spikes dramatically. This year, we successfully scaled our online platform to support a massive increase in traffic and delivered hundreds of thousands of concurrent video streams and dozens of petabytes of content to our viewers.”

    Government organizations are also working with AWS to lower costs and better serve citizens in the region, including the Bahrain Institute of Public Administration which has moved their Learning Management System to AWS, reducing costs by over 90 percent. Another government organization using AWS is the Kingdom of Bahrain Information & eGovernment Authority (iGA). The iGA is in charge of moving all government services online and is responsible for ICT governance and procurement for the Bahrain government. Earlier this year the iGA launched a cloud first policy, requiring all new government ICT procurement to evaluate cloud-based services first. Mohamed Al Qaed, Chief Executive of Kingdom of Bahrain iGA said of the announcement, “AWS forms the backbone of our digital government initiatives so the news that an AWS Region is coming to our country is warmly welcomed by us. Through adopting a cloud first policy, we have helped to reduce the government procurement process for new technology from months to less than two weeks. We are in the process of migrating 700 servers with more than 50 TB of data to AWS with the goal of decommissioning our hosting platform by the end of 2017.  We have also started to migrate systems of national significance, such as our Bahrain Data Locator, and supporting other entity system migrations, like the Ministry of Education LMS that has 149,000 users, with more planned on the way. As we move more mission critical workloads to AWS, we look forward to even greater efficiencies and being able to complete our mission to become eGovernment & ICT Pioneers.”

    In addition to established enterprises, government organizations, and rapidly growing startups, AWS also has a vibrant AWS Partner Network (APN) across the Middle East, including APN Partners that have built cloud practices and innovative technology solutions on AWS. APN Consulting and Technology Partners in the Middle East are helping customers to migrate to the cloud include Al Moayyed Computers, Batelco, C5, du, DXC Technology, Falcon 9, Infonas, Integra Technologies, ITQAN Cloud, Human Technologies, Kaar Technologies, Navlink, Redington, Zain, and many others. For companies looking to join the APN or for the full list of members please visit: https://aws.amazon.com/partners/

  • 10 Promising Jordanian Tech Startups

    10 Promising Jordanian Tech Startups

    MENA has over the years cemented its importance as a global tech hub. Of the massive Arab-speakers population of 350 million, 40 percent of the individuals are now active internet users.

    Smartphone penetration both in the UAE and Saudi Arabia is now over 60 percent, which is slightly higher than as is found in the US, UK, France, and Germany. Moreover, the time spent by Saudi Arabia and UAE on social media is surprisingly also higher than is in these aforementioned four nations.

    Even so, unlike numbers would suggest, the regional tech starters hub is not in Saudi Arabia or UAE but Amman-the capital of Jordan. Referred to as Silicon Wadi’, this city houses over 600 tech firms, half of them start-ups.

    Among the most promising startups it hosts are:

    1. Repzo

    Repzo is a mobile sales Customer Relationship Management application for Android and iPhone devices. Its functionality and features are great for use by professionals in sales, marketing, and service companies who frequently send reps into the field.

    With the use of the app, reps are able to track and manage their clients’
    interactions, finalize purchase orders and transaction reports while in the
    field. The app also securely saves your client’s
    GPS locations so that you could navigate to them easily every time.

    2. CashBasha

    This is a unique web-based service that allows shoppers to buy items with cash from Amazon and have them delivered to their doorsteps. It is very convenient for people who lack online payment systems. It calculates the lowest shipping and customs charges and takes care of any
    other shipping and packaging arrangements on your behalf. Therefore, it is very
    pocket-friendly and efficient. CashBasha takes care of the vast eCommerce market of the Middle East and North Africa (MENA).

    3. Tamatem

    This is a mobile game developer which localizes globally published mobile games and develops its own games for Arabic speakers. Some of the most popular games it has developed are Arabic Stars QuizIn and Death Road. It has made online content in app stores accessible to Arabic users and exposed them to entertainment and fun just as their fellow English
    speakers in other parts of the world.

    4. Edaura

    This start-up is based on a course management application for educators. It allows teachers, instructors, and trainers to connect and share learning resources with their students. It also allows for course assessment through distributing and collecting assignments. Learners and educators can conveniently communicate aspects of their study and give timely feedbacks.

    5. 3Oun

    The company is based on the 3Oun service platform app that helps you reach utility service in an easier way. You can schedule the delivery of a quality and credible handyman for any household repair or installation tasks.

    6. BilForon

    This is a marketplace application that connects customers with home-cooks. Everybody knows that home food is the best. This app allows food enthusiast to order and pick up food right at the doorstep of their preferred home-based cooks.

    7. MindRockets

    This is a start-up that develops assistive technology solutions for the hard of hearing deaf
    community. It helps in bridging the communication gap between people suffering such disabilities and tech-based gadgets or service. It uses avatars to deliver text or speech to sign language interpretations.

    8. Hello World Kids

    This is a start-up organization that specializes in teaching computer and programming skills to
    kids. It seeks to invest in the huge creative potential of children into programming. Its goal is to make sure that young adults would be better equipped to offer solutions to problems in a
    rapidly evolving technology-based world.

    9. Friendture

    This is a start-up based on a mobile app that enables it, users, to connect for group management, group activity, and creation. Users have the luxury of planning and managing public or private events.

    10. Feesheh

    This is an online based music and instrument store. It provides musical instruments such as guitars, keyboards, drums, digital pianos, violins, and percussions. It also offers literature and multi-media accessories in from of books and DVDs for people to use in learning their musical instruments. The company also offers instrument repair services.

    A thank you goes to Khaled ElAhmed for helping me scanning the Jordanian startup scene.

  • ADGM and KPMG launch ‘FinTech Abu Dhabi Innovation Challenge’

    ADGM and KPMG launch ‘FinTech Abu Dhabi Innovation Challenge’

    Abu Dhabi Global Market (ADGM) and KPMG have come together to launch the first ever FinTech Abu DhabiInnovation Challenge on 22 October 2017 in Abu Dhabi to enable start-ups access industry-leading solutions that may help entities address emerging business challenges in the financial services industry.

    The Innovation Challenge, as part of the inaugural FinTech Abu Dhabi event on 22 and 23 October 2017, includes an intensive five week program, which will allow innovative and mature start-ups to conceptualize and presentmarket-ready solutions that can address real business challenges identified inthe financial services industry in the Middle East, Africa and South Asia (MEASA) region.

    During the programme

    10 finalist teams will work on developing solutions tospecific problem statements, divided into six focus areas: Financial andInvestment Management, Financial Inclusion, RegTech, Trade Finance,InsurTech and Private Capital Markets.

    The finalists will showcase their solutions at the FinTech Demo Day in AbuDhabi to a panel of industry experts. Each finalist will benefit from a number ofdifferent sessions, including start-up initiation and mentoring sessions,opportunities to enter or expand into the MEASA financial services sector andjoin adoption programs and collaborative ecosystems in the MEASA region, access to guidance and support from industry leaders, subject-matter experts and regulatory authorities, and fast-tracked consideration for admission toADGM’s Regulatory Laboratory (RegLab) programme. They will also win a US$15,000 cash stipend to cover any costs associated with travel matters and/or accommodation.

    Mr Wai Lum Kwok, Executive Director (Capital Markets), Financial Services Regulatory Authority of ADGM, commented:

    “We are excited to team up with KPMG in developing and organizing the FinTech Abu Dhabi Innovation Challenge. This is a great opportunity for FinTech start-ups to interact with the brightest minds in the industry to leverage the guidance and mentorship of industry experts to come up with solutions to address and solve some of the sector’s challenges and pain-points. As part of ADGM’s FinTech collaboration with the Monetary Authority of Singapore, the winners will be able to participate in the Singapore Hackcelerator event to demonstrate their innovative solutions.
    As an International Financial Centre and leading FinTech Hub, ADGM will continue to keep its finger-on-the-pulse, listening to and anticipating the needs ofour market, working closely with our FinTech bridges and partners, and maintaining an open and conducive ecosystem that is relevant today, and builds the economy of tomorrow.”

    Mr Umair Hameed, Partner, Financial Services, KPMG in the Lower Gulfsaid:

    “The FinTech Abu Dhabi Innovation Challenge is truly a progressive initiative for the industry, and KPMG along with ADGM is very pleased to be able to lend its support and assist emerging start-ups in the region to achieve their objectives. The industry has a responsibility to support and encourage innovation, especially across start-ups in the UAE in line with the UAE Vision 2021 which aims to transform the country into a diversified, knowledge-based economy.
    “Together with ADGM, KPMG will use the combined strength of our renowned Financial Services sector insight and our global network of expertise to help prepare and equip mature start-ups for the competitive business environment ahead of them.”

    Individuals and mature start-ups with a working prototype and go-to-market strategy are encouraged to apply to the FinTech Abu DhabiInnovation Challenge via https://matchi.biz/Abudhabifintech. The call for submissions for the program is already open and submissions will be accepted until 25 August 2017.

    Two Innovation Challenge winners will be announced on 22 October 2017.  These winners will   have the opportunity to demonstrate their solutions at the upcoming Global FinTech Hackcelerator in Singapore.

    The FinTech Abu Dhabi event is a platform for financial institutions, FinTechstart-ups and participants, investors, regulatory agencies and the businesscommunity to network, collaborate and exchange knowledge in FinTechdevelopments in Abu Dhabi, the wider MEASA region and on an international level. The event will include a Summit, Innovation Challenge, Demo Day, and FinTech Awards presentation.

    Application Window:  6 to 25 August 2017

  • 6 Co-Working Spaces for Entrepreneurs Based in Cairo

    6 Co-Working Spaces for Entrepreneurs Based in Cairo

    As an entrepreneur, you will most likely start with a raw idea working from the comfort of your small home office. But, as you take on more responsibility, you will start looking for a place with zero distractions that allows you to focus on staying on top of your To-Do list, get access to a stable internet connection, and use meeting rooms to meet up with your team, clients, partners, and host startup events.

    See Also: 3 SEO tips to boost your local business on Google

    Guess what?! This is what Co-working spaces are for and the best part is that you pay only for what you use. You can book your desk, office space or venue for a couple of hours, a number of days/weeks or even a month. So, if you are an entrepreneur looking for a place to get your startup off the ground then this blog post is for you. Below is a list of co-working spaces available to entrepreneurs in Cairo according to their location.

    Downtown:

    1. XCO Business Space

    XCO is a business space that targets freelancers/entrepreneurs looking for office/venue space, and consulting services.

    Location: https://goo.gl/maps/w3do1NRjXJx

    2. Muqaddima Co-Working Space

    Muqaddima is a shared workspace located in the Greek Campus that provides dedicated desk space, meeting rooms, lockers and other business services.

    Location: https://goo.gl/maps/XwoPmvo8dVM2

    Heliopolis/Nasr City:

    3. AlMaqarr Co-working Space

    AlMaqarr co-working space provides the possibility of renting a desk, office space or a venue for trainings, workshops or startup events. It also, gives you access to the community’s networking events and workshops.

    Location: https://goo.gl/maps/8uBKJtLGgMp

    4. 302 Labs

    302 Labs co-working space is definitely your go-to place if you are looking to get things done in a professional workspace, network with like-minded individuals and have some fun in their cool entertainment corner.

    Location: https://goo.gl/maps/UhC9XhJebf42

    Maadi:

    5. District Spaces

    District Spaces offers office space, meeting rooms, and a café where you can get some work done or meet up with your team while enjoying a wide selection of food and beverages.

    Location: https://goo.gl/maps/ejRkzArngu12

    Dokki:

    6. Creativo Co-working Space

    In addition to offering shared and dedicated office space, you can book the space for your events. Creativo also offers its community of entrepreneurs, freelancers and small business owners a variety of workshops and learning opportunities.

    Location: https://goo.gl/maps/YhBxHMy2eGv

    If you have any notes you would like to add, or wish to add your co-working space to this list please shoot me an email to skurdi [at] outlook [dot] com and I will go ahead and update it.

  • TPAY Acquires 100% of DCBEgypt

    TPAY Acquires 100% of DCBEgypt

    TPay, the MENA region’s first and biggest Direct Carrier Billing platform, and one of A15’s portfolio companies, announced today that it acquired 100% of DCBEgypt, the second largest Direct Carrier Billing service provider in Egypt, for an undisclosed amount.

    TPay was among the first Fintech companies in the region to revolutionize digital payments by connecting consumers, businesses and mobile operators using Direct operators billing (DOB) –  the highest penetration and most useable mobile payment method. Founded in Jan 2014, TPay has since then processed over 2.6 billion transactions from across the region.

    “It is a very exciting moment for TPay to be able to make its first acquisition after only 3 years of operations, which is a great achievement for any company at this young age.” Said Sahar Salama, CEO of TPAY Mobile. “The acquisition fits our strategic and ambitious growth plans to serve more partners and accelerate moving to the next level in TPAY’s growth plans.” Added Sahar.

    Founded in October 2014, DCBEgypt offers direct carrier billing services with 2 mobile operators in Egypt. “Sharing the same vision and strategic plans; We are positive that we made the right decision to handover what we built to what is fast shaping up to be the region’s most important Fintech player,” said Mostafa Elshafey, CEO of DCBEgypt. “We are very confident that TPay’s management will continue to deliver exceptional growth and we wish the TPay team the very best in their future plans”. Added Mostafa.

    A15’s CEO, Fadi Antaki said, “Although TPay, in age, might be considered as a startup, its revenues categorize it as a large company. “It took only 3 years for Tpay to grow from merely a technology startup to a strong, sustainable, and fast growing Fintech business, covering the whole Gulf and North African regions. To boost this super growth even more, TPay has moved to acquire the second largest direct billing player in the Egyptian market to become without doubt the number one direct billing company in the region” Added Antaki.

    TPay is currently actively present in more than 13 countries in MENA with aggressive expansion in progress, and with the acquisition of DCBEgypt, TPay will be able to offer DCBEgypt’s Clients a greater regional experience and allow them to vastly expand their presence inside and outside Egypt.

    The MENA region had experienced explosive growth in the fintech industry making it among the top 5 industries in MENA that are most popular for investment in 2017. Over the last 10 years, MENA fintech startups have raised over $100 million in funding, with other reports indicating that the number of startups launched and investments raised will be more than double by 2020.

  • Mumm receives $200,000 investment from 500 Startups

    Mumm receives $200,000 investment from 500 Startups

    The rising online homemade food platform, Mumm, received an investment worth $200,000 from 500 Startups, possibly one of the world’s most active venture capital funds.

    Earlier in 2015, 500 Startups announced that it will allocate a MENA fund of up to $30 million, named 500 Falcons, to invest in early-stage startups, MENA diaspora founders and outside companies focused on the region. In its first annual highly-selective MENA accelerator program, 500 Falcons selected nine startups, of which Mumm was one.

    See Also: Careem Invests $500,000 Stake in Egyptian Transportation Startup SWVL

    Commenting on the deal, Sharif El-Badawi, Partner at 500 Startups said, “We’re incredibly proud to be a part of Mumm’s journey with Waleed. Mumm tackles the intersection of issues faced in Egypt and other markets whereby the cost of a healthy and convenient meal for the bulk of young employees has become prohibitive. Not only do we believe that Mumm will help corporate employees eat healthier and be more productive, we are keen on empowering women and providing a means to independence and job security for them.”

    Mumm provides a platform for local Egyptian women and refugees to sell home-cooked meals to customers. With unemployment rates among Egyptian women hitting 25%, Mumm gives women the opportunity to create a sustainable livelihood for themselves, from the convenience of their homes, while ensuring they are equipped with the right tools to deliver consistent, high quality service. According to the company, women (Mumm calls them cooking partners) can make up to 6000 EGP monthly by working from home.

    “We are currently growing our team of high caliber young people as we expand our business. We will continue to build an organizational environment that is full of learning, and one that challenges the team to achieve more so we can realize our full potential” said Waleed Abdel Rahman, CEO and Founder of Mumm, who emphasizes the importance of attracting talented, purpose-driven individuals to Mumm.

    The rising startup was recently recognized by the World Economic Forum as one of 100 startups disrupting the region, and was among the top 5 finalists in ArabNet’s Startup Championship in Dubai, last May. Mumm also won the first place in the Harvard Arab Alumni Association World conference startup competition this year; and in 2016 closed a seed investment from the prominent Egyptian VC A15.

    Mumm is now also in the process of launching its B2B solution, to provide a more value for money experience to companies and their employees while maintaining a high nutritional value.