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.

Published

12 months ago

August 7, 2023

Nour Nasir

egypt-based cybersecurity firm buguard completes seed fund

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.

Related Topics:Buguard Cybersecurity Egypt

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Mamo Completes $3.4M Funding Round To Enhance Fintech Services

The startup will use the influx of cash to expand into Saudi Arabia and across the wider GCC while improving its product offering.

Published

1 day ago

July 25, 2024

Nour Nasir

Mamo

UAE-based fintech Mamo has announced the completion of a $3.4 million funding round that will help the startup extend its market presence and improve its product offering. Investors included 4DX Ventures, the Dubai Future District Fund and Cyfr Capital.

Mamo’s platform offers “payment collection, corporate cards and expense management” to help small and medium-sized businesses consolidate and streamline their operations. With the latest influx of capital, Mamo will further develop its comprehensive suite of services and begin testing its product lines in Saudi Arabia, further extending its footprint across the GCC.

Imad Gharazeddine, co-founder and CEO of Mamo, stated: “We’ve been in the market for a while now and are incredibly proud of what our team has achieved. The holistic and expansive nature of our product offering has helped us continue to grow sustainably. This additional funding will allow us to reach our medium-term goals even faster. The support from new and existing investors is a testament to our strong expertise and the ability to deliver on our customer promise”.

Daniel Marlo, General Partner of lead investor 4DX Ventures, added: “We have immense trust in Imad’s vision, leadership and Mamo’s innovative approach to provide a user-friendly and comprehensive financial solution for SMEs that makes financial management more accessible and efficient. We are proud to partner with them and support their mission”.

Also Read: A Guide To Digital Payment Methods In The Middle East

Amer Fatayer, Managing Director of Dubai Future District Fund’s investment team, also commented: “Mamo’s localized product lines serve as an infrastructure for SME payments and spend management in UAE, a segment that is underserved by the country’s current banking infrastructure. The team has taken a product-first approach to consolidating SMEs’ financial journeys and building a fintech solution deeply embedded in a business’s core operations”.

To date, Mamo has raised around $13 million in investment funding and now boasts a team of 30 people. The company’s intuitive financial services platform has allowed over 1,000 businesses to consolidate their financial operations and significantly reduce payment fees.