Finance

  Egypt’s sports betting platform Eksab raises funds from US venture fund 500 Startups, as 2019 AfCON approaches

Wednesday, 19 June 2019 16:46
  Egypt’s sports betting platform Eksab raises funds from US venture fund 500 Startups, as 2019 AfCON approaches

(Ecofin Agency) - Egyptian sports betting platform Eksab has mobilized funding from the US venture fund 500 Startups to expand its business. The company intends to leverage the 2019 African Cup of Nations in Egypt, which starts June 21, to strengthen its position in the sports betting and entertainment games segment.

Eksab says it has recorded more than 5 million of bets in a 2-year period. According to Sharif El-Badawi, a partner 500 Startups’ partner, the investment made by the US firm will provide significant support to Eksab.

The sports entertainment sector in Egypt remains competitive. Companies such as Bahigo.com are diversifying their bet offers and using digital technology to attract more Egyptian gamblers.

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