Eksab raises $500K funding round, from 4DX Ventures
Egypt's Eksab, the Daily Fantasy Sports (DFS) platform, has announced the second part of a Seed funding round of $500K from 4DX Ventures, as well as other strategic investors within the international sports and entertainment ecosystem.
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With over 1 billion football fans across the Middle East and Africa, Eksab’s goal is to make every match more exciting. Users sign up to the platform, join both free and paid competitions, make predictions on live international football games, collect points based on the accuracy of their predictions, and then get rewarded with prizes or cash.
Co-Founder and CEO Aly Mahmoud said, “Daily Fantasy Sports and monetized competitions are a multi-billion dollar a year industry in the US. Our goal is to become the premier sports entertainment company in the MEA region by offering exciting Fantasy Sports competitions as well as highly engaging local sports content. We’re bringing the FanDuel and DraftKings model to the world’s largest football market."
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With the new funds from 4DX Ventures, Eksab plans to scale its product to the millions of football fans in the region with the goal of launching its first paid competitions over the next year.
Peter Orth, Partner at 4DX commented, “We see the region as one of the most exciting and underserved markets for a sports entertainment platform. We’ve been really impressed with Aly’s vision for a next-generation and technology-driven platform that is also highly tailored to local fans and their preferences. We’re excited to be on this journey with Aly and the rest of the Eksab team.”
Aly Mahmoud continued, “Our ultimate goal is to provide an unmatched daily source of entertainment, engagement, and content for the region's football fans. There has never been a more exciting time to be a football fan in the Middle East and Africa. Over the next year, we plan to work with a select group of partners to make the experience even more immersive. We’re excited to have 4DX with us on this journey."
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