Cairo-based daily fantasy sports platform Eksab, has raised $500,000 from 4DX Ventures.
Launched in 2017, Eksab allows users to make predictions on live international football games, collect points based on the accuracy of their predictions and receive either cash rewards or prizes.
“Daily fantasy sports and monetised competitions are a multi-billion dollar a year industry in the US,” said Aly Mahmoud, co-founder and CEO of Eksab. “Our goal is to become the premier sports entertainment company in the Middle East and Africa region by offering exciting fantasy sports competitions as well as highly engaging local sports content.”.
Eksab plans to use the investment to scale its product to the one billion football fans in MEA, and also plans to launch its first paid competitions in 2021.
“We see the region as one of the most exciting and underserved markets for a sports entertainment platform. We’ve been really impressed with Aly’s vision for a next generation and technology-driven platform that is also highly tailored to local fans and their preferences. We’re excited to be on this journey with Aly and the rest of the Eksab team,” said Peter Orth, partner at 4DX Ventures.