Algebra Ventures
Algebra Ventures is a Cairo-based venture capital firm founded in 2016 that funds technology startups across Egypt and the wider Middle East and North Africa region. The firm concentrates on Series A and Series B rounds, with a focus on fintech, financial services, consumer internet and e-commerce, enterprise software, and other technology-enabled sectors. It seeks high-growth teams with a clear value proposition and the ability to scale, and it considers earlier-stage opportunities as part of the pipeline. Typical investments range from approximately 0.5 million to 4 million dollars, and the firm targets minority stakes of 15% to 30%. While primarily focused on Egypt, Algebra Ventures also explores opportunities across the MENA region, providing capital and strategic support to help startups move from early development to scale.
Top Stages
Past deals in Egypt
Khazna
Series A in 2022
Khazna is a mobile application platform designed to enhance financial services for Egyptians, particularly targeting the 50% of the population who are active smartphone users but lack access to traditional banking. The company offers a range of services, including General Purpose Credit, Buy Now Pay Later (BNPL), bill payment, savings, and insurance. Additionally, Khazna enables employers to provide cash advances to employees for unforeseen emergencies and facilitates seamless transfers and withdrawals without transaction fees. By focusing on digitizing cash transactions, Khazna aims to provide convenient, effective, and secure smartphone-based financial solutions, thereby improving the overall financial landscape in Egypt and potentially beyond.
Orcas
Seed Round in 2022
Orcas Solutions Limited operates an online marketplace that connects parents and students with experienced and reliable private tutors and babysitters in Egypt, Saudi Arabia, and Pakistan. Founded in 2014 and based in Cairo, the company provides a hybrid tutoring platform that offers live tutoring sessions along with personalized learning plans and courses. This approach enables students to receive tailored educational experiences, enhancing their learning and making education more enjoyable. Through its services, Orcas Solutions aims to empower students and support families in finding quality educational and childcare resources.
Orcas
Venture Round in 2021
Orcas Solutions Limited operates an online marketplace that connects parents and students with experienced and reliable private tutors and babysitters in Egypt, Saudi Arabia, and Pakistan. Founded in 2014 and based in Cairo, the company provides a hybrid tutoring platform that offers live tutoring sessions along with personalized learning plans and courses. This approach enables students to receive tailored educational experiences, enhancing their learning and making education more enjoyable. Through its services, Orcas Solutions aims to empower students and support families in finding quality educational and childcare resources.
GoodsMart
Venture Round in 2021
GoodsMart is a mobile application developed to facilitate the online shopping of groceries and household products. Founded in 2013 and based in Cairo, Egypt, the company aggregates local grocery stores within its platform, allowing users to purchase a range of items including groceries, personal care, and home care products. GoodsMart offers a premium shopping experience with next-day delivery, enabling consumers to enjoy fresh products delivered directly to their homes. By streamlining the grocery shopping process, GoodsMart helps users save both time and money, making daily errands more manageable.
Yodawy
Series B in 2021
Yodawy Inc. is a Giza-based company founded in 2018 that specializes in developing a medicine delivery and claims management platform. It enables customers to order pharmaceuticals and personal care products through a mobile app, which facilitates delivery via a network of over 500 pharmacies across Egypt. The platform combines an AI-powered approval engine for insurance claims with features like a digital prescription app and a partner portal. Yodawy collaborates with major insurance carriers to automatically apply insurance and copayment benefits for users, streamlining the medication ordering process and enhancing accessibility for patients seeking home delivery of their prescriptions.
La Reina
Seed Round in 2020
La Reina is an online fashion rental platform based in Heliopolis, Cairo, Egypt, specializing in the rental of designer wedding and evening dresses, along with accessories. Founded in 2016, the company enables women to rent their bridal gowns and evening attire from one another, providing a diverse selection of designer pieces in various sizes. By facilitating an accessible marketplace for fashion, La Reina caters to those seeking affordable options for special occasions while promoting sustainable practices in the fashion industry.
Khazna
Seed Round in 2020
Khazna is a mobile application platform designed to enhance financial services for Egyptians, particularly targeting the 50% of the population who are active smartphone users but lack access to traditional banking. The company offers a range of services, including General Purpose Credit, Buy Now Pay Later (BNPL), bill payment, savings, and insurance. Additionally, Khazna enables employers to provide cash advances to employees for unforeseen emergencies and facilitates seamless transfers and withdrawals without transaction fees. By focusing on digitizing cash transactions, Khazna aims to provide convenient, effective, and secure smartphone-based financial solutions, thereby improving the overall financial landscape in Egypt and potentially beyond.
Elmenus
Series B in 2020
Founded in 2011, Elmenus operates a food discovery platform that helps users find nearby restaurants and top dishes based on user ratings. It serves over 1 million monthly users across Egypt.
Yodawy
Series A in 2019
Yodawy Inc. is a Giza-based company founded in 2018 that specializes in developing a medicine delivery and claims management platform. It enables customers to order pharmaceuticals and personal care products through a mobile app, which facilitates delivery via a network of over 500 pharmacies across Egypt. The platform combines an AI-powered approval engine for insurance claims with features like a digital prescription app and a partner portal. Yodawy collaborates with major insurance carriers to automatically apply insurance and copayment benefits for users, streamlining the medication ordering process and enhancing accessibility for patients seeking home delivery of their prescriptions.
Orcas
Seed Round in 2019
Orcas Solutions Limited operates an online marketplace that connects parents and students with experienced and reliable private tutors and babysitters in Egypt, Saudi Arabia, and Pakistan. Founded in 2014 and based in Cairo, the company provides a hybrid tutoring platform that offers live tutoring sessions along with personalized learning plans and courses. This approach enables students to receive tailored educational experiences, enhancing their learning and making education more enjoyable. Through its services, Orcas Solutions aims to empower students and support families in finding quality educational and childcare resources.
GoodsMart
Series A in 2019
GoodsMart is a mobile application developed to facilitate the online shopping of groceries and household products. Founded in 2013 and based in Cairo, Egypt, the company aggregates local grocery stores within its platform, allowing users to purchase a range of items including groceries, personal care, and home care products. GoodsMart offers a premium shopping experience with next-day delivery, enabling consumers to enjoy fresh products delivered directly to their homes. By streamlining the grocery shopping process, GoodsMart helps users save both time and money, making daily errands more manageable.
Halan
Series A in 2018
Halan is an Egyptian technology company established in 2017, operating a mobile application that caters to various consumer needs through a single platform. The app offers ride-hailing services for two and three-wheeler vehicles, on-demand logistics solutions, food delivery, and goods transportation via motorbikes or cargo tricycles. Halan also facilitates e-payments and microfinance services for its users. It has partnered with prominent fast-food chains in Egypt to provide last-mile delivery services using smart-tech integrated systems. The company aims to enhance convenience and safety for customers while offering incremental business opportunities for drivers, supporting both large organizations and small businesses in their distribution needs.
FilKhedma
Seed Round in 2018
FilKhedma is the largest home services marketplace in Egypt, specializing in connecting users with reliable service providers for a range of home maintenance and cleaning services. The platform allows users to book quality guaranteed services online, ensuring punctual appointments and transparent pricing. Service providers undergo a thorough onboarding process to ensure they meet the company's standards before receiving orders through a mobile application. FilKhedma caters to both residential and corporate clients, offering skilled technicians for various tasks, including plumbing, carpentry, electrical work, air conditioning, and more. The company operates in three major cities in Egypt, emphasizing convenience and quality in the home services sector.
HolidayMe
Series C in 2018
HolidayMe is an online travel portal established in 2013, operating under the registered trademark of Traveazy DMCC and headquartered in Dubai, UAE. The company specializes in providing a comprehensive online travel booking platform that allows customers to plan their holidays with ease. It offers a wide range of services, including hotel bookings, customized travel packages, and booking vouchers, catering to both B2B and B2C markets. HolidayMe focuses on enhancing the travel experience for its users by providing tailored solutions that meet the diverse needs of travelers. With additional offices in Pune, Jeddah, and Cairo, the company has gained recognition in the travel industry, particularly within the GCC region, for its commitment to quality service and customer satisfaction.
Halan
Series A in 2018
Halan is an Egyptian technology company established in 2017, operating a mobile application that caters to various consumer needs through a single platform. The app offers ride-hailing services for two and three-wheeler vehicles, on-demand logistics solutions, food delivery, and goods transportation via motorbikes or cargo tricycles. Halan also facilitates e-payments and microfinance services for its users. It has partnered with prominent fast-food chains in Egypt to provide last-mile delivery services using smart-tech integrated systems. The company aims to enhance convenience and safety for customers while offering incremental business opportunities for drivers, supporting both large organizations and small businesses in their distribution needs.
La Reina
Seed Round in 2018
La Reina is an online fashion rental platform based in Heliopolis, Cairo, Egypt, specializing in the rental of designer wedding and evening dresses, along with accessories. Founded in 2016, the company enables women to rent their bridal gowns and evening attire from one another, providing a diverse selection of designer pieces in various sizes. By facilitating an accessible marketplace for fashion, La Reina caters to those seeking affordable options for special occasions while promoting sustainable practices in the fashion industry.
FilKhedma
Seed Round in 2017
FilKhedma is the largest home services marketplace in Egypt, specializing in connecting users with reliable service providers for a range of home maintenance and cleaning services. The platform allows users to book quality guaranteed services online, ensuring punctual appointments and transparent pricing. Service providers undergo a thorough onboarding process to ensure they meet the company's standards before receiving orders through a mobile application. FilKhedma caters to both residential and corporate clients, offering skilled technicians for various tasks, including plumbing, carpentry, electrical work, air conditioning, and more. The company operates in three major cities in Egypt, emphasizing convenience and quality in the home services sector.
GoodsMart
Series A in 2017
GoodsMart is a mobile application developed to facilitate the online shopping of groceries and household products. Founded in 2013 and based in Cairo, Egypt, the company aggregates local grocery stores within its platform, allowing users to purchase a range of items including groceries, personal care, and home care products. GoodsMart offers a premium shopping experience with next-day delivery, enabling consumers to enjoy fresh products delivered directly to their homes. By streamlining the grocery shopping process, GoodsMart helps users save both time and money, making daily errands more manageable.
Elmenus
Series A in 2017
Founded in 2011, Elmenus operates a food discovery platform that helps users find nearby restaurants and top dishes based on user ratings. It serves over 1 million monthly users across Egypt.
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