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Cairo-based LegalTech platform Hekouky has successfully raised an undisclosed amount in its Pre-Seed funding round led by Nama Ventures.
Launched in 2020, Hekouky provides a seamless, consolidated platform for corporate legal servicing in Egypt. The platform incorporates companies and registers trademarks for entrepreneurs and business owners, and gets legal transactions sorted hassle-free.
As recorded in our Q3 2021 Egypt Venture Investment Report, investor focus seems steady towards creating a healthy future deal flow in Egypt. Early-Stage Deals (<$500K) accounted for 54% of total deals closed by Q3 2021, which is an immensely significant base compared to other Emerging Venture Markets like Pakistan (26%) or the UAE 18%. The 27 Early-Stage deals closed in Egypt since the beginning of the year were invested across industries like E-commerce backing q-commerce platform Appetito and lifestyle platform DressCode, EdTech with E-learning platform iSchool and Social connector Career180, and FinTech with expense management platform HollyDesk and neobanking platform NowPay.
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Hekouky was founded by three co-founders with diverse backgrounds and experiences: Hala Riad, Mayy Abdelbary, and Fatima Khalil. Mayy Abdelbary is the former CTO of Paynas, with 15 years of experience, 9 of which were in legal software development she has decided to take the legal space by storm. Hala Riad is a lawyer with experience in arbitration and corporate law. Fatima Khalil is an accountant and the founder of three companies previously. What unites these women is a dedication to making legal affairs easy and accessible to all. Making legal transactions easier, quicker, and traceable for entrepreneurs. “Our mission is to make entrepreneurs feel safe to follow their dreams, in Egypt and in the MENA region. Entrepreneurship is a test of wills, one that we will make easier by taking the legal burden off your shoulders.” highlighted Co-Founder Hala Riad.
The Pre-Seed funding supports the startup’s Tech and platform development initiatives and will allow them to move strategically towards scaling their operations. Mohammed Alzubi, Managing Partner at Nama Ventures, concluded with high hopes for the Egypt-based team “We firmly believe that the RegTech space in MENA is ripe for disruption. There are tremendous inefficacies in the legal space that technology can help bridge. What we saw in Hala, Mayy, and Fatima is a team that has a very good command of what it takes to build a great RegTech startup.”
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