Eksab, Cairo-headquartered daily fantasy football platform, raised $3 million in a Seed funding round, led by 4DX Ventures with participation from Darwazah Capital, Golden Palm Investments, P1 Ventures, and a number of strategic angel investors from the local and global sports and entertainment ecosystem.
This round brings the company’s total investment to date to $3.7 million and Eksab will use the fund to scale its user base across MENA and Africa, invest in product development, acquire talents for engineering, product, and execute partnerships with a number of leading global football clubs.
Eksab was launched in Egypt in 2018 with a mission to make football more exciting and interactive for every fan in the Middle East and Africa, through gaming and online community building. Players can choose free or premium competitions, make predictions and choose line-ups, with winners climbing the leaderboard and winning cash and prizes.
“This is a phenomenally high growth period in our business as we look to take our platform to new audiences. We are also really excited to have some leading global investors and partners join this round. The fact that our previous investors are all doubling down on Eksab highlights the great effort the team has put in over the last 12 months and the massive opportunity in the sector. With the growth of Web3 and play-to-earn gaming, we see Eksab as being at the forefront of the digital transformation of football, content, community and gaming across Africa and the Middle East,” Aly Mahmoud, Eksab Founder and CEO, said.
Eksab currently has over 700K registered users in Egypt on its platform who participate in daily, weekly and monthly fantasy and predictions contests. As it invests further in its technology, Eksab is currently adding functionality to integrate with leading blockchain-based platforms to enable football fans to capitalise on Web 3.0’s increased speed and transparency.
“We have been consistently impressed by the growth Eksab has demonstrated over the past 12 months, powered by technology-backed innovation and unrivalled market knowledge, by Aly and his team. The football gaming market is enormous globally, but especially in Mena. Eksab has built a product and a community that has been rapidly growing in the MENA region but can easily scale across the continent – which fits 4DX’s investment ethos perfectly,” Dan Marlo, Managing Partner at 4DX, added.
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