News
Egypt-Based Cybersecurity Firm Buguard Completes Seed Fund
The investment round was led by MENA venture capital firm A15 and will help drive expansion into the GCC later this year.
Buguard, the Cairo-based offensive security and dark web monitoring company has announced the successful completion of a $500,000 seed funding round.
Fundraising was led by A15, one of the most prominent backers of early-stage startups in the MENA region, with participation from various other angel investors.
The $500,000 sum is Buguard’s first external investment, with the company having been bootstrapped since its launch in 2021. The funding injection will be used to grow the Buguard team and to expand further across the Gulf Coast Countries (GCC) later this year.
Youssef Mohamed, Buguard’s founder and Chief Technology Officer, said: “We are delighted to announce our fundraising, and I thank A15 for its great support. The world of dark web cyber threats is very real, dynamic, and growing. Any company can be a victim, and one must be prepared. We are already a global company, with clients across the world, but our immediate strategy is to grow even stronger in the GCC. We look forward to expanding into Saudi Arabia during 2023 and using our proceeds to help fulfill our significant growth potential”.
Since commencing operations, Buguard has helped many of Egypt’s leading businesses and developed a global client base spanning Saudi Arabia, the United States, France, Australia, and the United Kingdom.
Also Read: The Largest Data Breaches In The Middle East
The startup’s primary role is monitoring dark web marketplaces, hacking forums, underground channels, and private clouds to identify and neutralize data breaches across different venues. Buguard provides a wealth of security services, including penetration testing, phishing simulation, threat intelligence, and more. The company also offers a subscription-based SaaS product known as Dark Atlas that helps businesses prevent data breaches.
Founded in 2021, Buguard’s team comprises highly skilled security researchers and engineers. The company is renowned for exposing critical security vulnerabilities in tech giants, including Yahoo, PayPal, Twitter, Amazon, eBay, Microsoft, and even the U.S. Department of Defense.
News
PayPal & TerraPay Join Forces For Cross-Border MENA Payments
The collaboration will be especially helpful in regions where traditional banking infrastructure is limited or inconsistent.
PayPal has teamed up with TerraPay to improve cross-border payments across the Middle East and Africa. The move is designed to make it easier and faster for users to send and receive money internationally, especially in regions where traditional banking infrastructure can be limited or inconsistent.
The partnership connects PayPal’s digital payments ecosystem with TerraPay’s global money transfer network. The goal is to streamline real-time transfers between banks, mobile wallets, and financial institutions, significantly improving access for millions of users looking to move money securely and efficiently.
Through the partnership, users will be able to link their PayPal accounts to local banks and mobile wallets using TerraPay’s platform. This means faster transactions and fewer barriers for individuals and businesses across the region.
“The Middle East and Africa are at the forefront of the digital transformation, yet financial barriers still limit growth for many,” said Otto Williams, Senior Vice President, Regional Head and General Manager, Middle East and Africa at PayPal. “At PayPal, we’re committed to changing that […] Together, we’re helping unlock economic opportunity and build a more connected, inclusive financial future”.
For TerraPay, the deal is a chance to scale its reach while reinforcing its mission of frictionless digital transactions.
“Our mission at TerraPay is to create a world where digital transactions are effortless, secure, and accessible to all,” said Ani Sane, Co-Founder and Chief Business Officer at TerraPay. He added that the partnership is a major milestone for enhancing financial access in the Middle East and Africa, helping businesses grow and users move funds with fewer limitations.
Also Read: A Guide To Digital Payment Methods In The Middle East
The integration also aims to support financial inclusion in a region where access to global banking tools is still uneven. With interoperability at the core, TerraPay can bridge the gap between different financial systems — whether that’s a mobile wallet or a traditional bank — making it easier to send money, pay for services, or grow a business across borders.
As the demand for cross-border payment options continues to rise, both PayPal and TerraPay are doubling down on their commitment to provide reliable, secure, and forward-looking financial tools for the region.
PayPal & TerraPay Join Forces For Cross-Border MENA Payments
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