Egyptian sports startup Eksab has raised a six-figure seed investment from 500 Startups and plans to use the proceeds to fund regional expansion, the company said in a press release.
Eksab is a daily fantasy sports platform allowing users to make predictions about live football games, earning points based on how accurate their predictions are, and being rewarded with prizes.
It has processed over 5 mn predictions since its launch in November 2017 and aims to increase this to 100 mn in the coming year, using the seed funding from 500 Startups.
California-based VC firm 500 Startupshas an investment portfolio of over 2.2k companies in more than 74 countries. “We believe we can add significant support to Eksab with our investment,” partner Sharif El Badawi said.