Cairo-based Daily Fantasy Sports (DFS) platform Eksab has raised $500,000 from 4DX Ventures, a New York-based early-stage VC focused on African startups, it announced in a statement to MENAbytes today. The round also included the participation of other strategic investors from the international sports and entertainment ecosystem, noted the statement. Eksab had previously raised an undisclosed amount of seed funding from 500 Startups in June 2019.
Founded in 2017 by Aly Mahmoud, Eksab, through its mobile apps, enables fans to join competitions to make predictions about live football games, collect points, and then get rewarded with prizes or cash.
Eksab estimates that there are over a billion football fans across the Middle East and Africa and that’s the opportunity it wants to tap into – by engaging them.
The startup plans to use the latest investment to scale its product to millions of football fans in the region and launch its first paid competitions over the next year.
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