Tays raises pre-Seed funding for its professional networking app
- Egypt-based networking app Tays has raised a seven-figure (EGP) pre-seed investment from several angel investors, some of whom will join the company’s board.
- Cofounded by Sherif Bacheet (CEO) and Fady Yonathan (CPO), Tays offers an end-to-end social networking app that helps professionals connect with each other based on mutual business interests.
- The investment will enable Tays to kick start its operations in Egypt as well as in other countries across the Middle East and North Africa (Mena) region.
After nearly a year of development, Sherif Bacheet, the founder and CEO of Tays, managed to raise a 7-figure pre-seed investment from various angel investors from within the Egyptian startup ecosystem, which will enable Tays to start operations across Egypt and the MENA.
Tays is a professional user to user networking app that uses a unique machine-learning algorithm to matchmake individuals based on their professional interests and aspirations to help people in expanding and maintaining their network on a professional level while keeping the social and casual touch.
“The ongoing pandemic has highlighted how difficult it is to create meaningful professional connections,” Bacheet said.
“With this pre-seed investment, we hope to launch our platform and enable the entire MENA to begin expanding their professional networks at unprecedented rates.”
The investment comes from an alliance of multiple angel investors, with some choosing to join Tays’ executive board. Among these board members are the Business Development Manager at Google Ireland, the CEO of Remax Middle East, the Founder and CEO of O7 Therapy, and the facility and Procurement Director at El Ahly Capital.