Agri-Fintech Mozare3 closes pre-seed funding round led by Algebra Ventures

EGYPT – Egyptian Agri-Fintech platform Mozare3, has closed a seven-figure pre-seed funding round led by Algebra Ventures and Disruptech Ventures, with participation from EFG-EV, and a group of reputable angel investors. Mozare3 aims to roll out multiple fintech offerings, one of which is the launch of credit solutions to finance purchases of different products for farmers and their families. Mozare3 was founded in 2020 by Hussein Abou Bakr and Tamer El-Raghy to serve over 20 million small farmers in Egypt by providing them with access to markets and credit. They…

Read More

Algebra Ventures to make first investment after its US$90m second fund

EGYPT – Algebra Ventures, a venture capital (VC) firm, is planning on making its first investments in East and West Africa once it raises its second fund, which has a target size of US$90 million, reports Disrupt Africa. In April 2021, Algebra Ventures had announced the launch of its US$90 million second fund, which is targeting a first closing in Q3 of 2021 and aims to double down on the success of its first fund. Four years into its first US$54 million fund, the firm has invested in 21 startups,…

Read More

VC firm Algebra Ventures launches US$90m fund to address specific market gaps in various sectors

EGYPT – Algebra Ventures, a venture capital firm, has announced the launch of its US$90 million second fund, which is targeting a first closing in the third quarter (Q3) of 2021 and aims to double down on the success of its first fund. The new fund will pursue opportunities in fintech, agri-tech, ed-tech, logistics and healthcare by partnering with high-potential founders to address specific market gaps in these sectors. Four years into its first US$54 million fund, Algebra Ventures has invested in 21 startups, including Trella, elmenus, GoodsMart, and Halan,…

Read More

Tech startup Sakneen raises US$1m seed round led by Algebra Ventures

EGYPT – Sakneen, a Cairo-based property tech startup, has announced that it has raised US$1.1 million in a seed round led by Algebra Ventures with a major participation from Sarwa Capital and Foundation Ventures. The round also included US-based real estate private equity firm Hem + Spire, Saudi-based investment firm Nakhla VC, and angels from Google, BlackRock, and McKinsey. Founded in late 2019 by Ramy Khorshed and Hussein El Kheshen, Sakneen makes buying and selling homes easier through its property portal. The users looking to buy a home can use…

Read More

Eventtus secures investment to launch a virtual events platform

EGYPT – Eventtus, a tech startup, has raised a new investment to build and launch an online events platform. The investment came from Cairo-based Algebra Ventures that had led Eventtus’ US$2 million Series A in late 2017, and Saudi-based Hala Ventures and Daal.  Eventtus, founded in 2012 by Mai Medhat and Nihal Fares in Cairo, has developed a platform for events ticketing, event management and apps for events. The startup has been working with events and organizers across the region (and beyond), building mobile apps for them that are powered…

Read More