Wuzzuf Secures Egypt’s Largest Funding Round, Led By European VCs

August 26, 2015 at 7:54 AM Leave a comment

Great job! Check out Wuzzuf, a happening online recruitment job site in Egypt. It just got funded by 2 VCs based in Sweden and the UK, check it out!

TechCrunch

BasharSoft, the startup behind leading Egyptian recruiting Wuzzuf, has spent the last 5 years surviving the turmoil of Egypt’s recent history. But it’s come through that to become a rare-commodity: An Egyptian company that has raised significant European VC cash. It’s just closed a Series A of $1.7 million from Sweden-based Vostok New Ventures and UK-based Piton Capital, in addition to previous investment from 500 Startups and Endure Capital. It’s probably fair to say that raising $1.7m in Egypt is closer to raising a $7m+ round in the US, to put that in context. Vostok are investors in Delivery Hero, while Piton are investors in FanDuel, both ‘unicorns’.

This also means that this is the probably the largest fund-raising round in Egypt for a very long time (obviously, there just isn’t that much historical data). This is also Vostok and Piton’s first investment in Egypt and also the…

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