News

Egypt’s Flat6Labs Picks 24 Startups For Growth Track Program

The initiative is known as StartMashreq, and welcomes companies from the FinTech, eCommerce and HealthTech sectors.

Published

1 year ago

September 7, 2023

Nour Nasir

egypt's flat6labs picks 24 startups for growth track program

StartMashreq

Flat6Labs, the Cairo-based venture capital company, has chosen 24 companies for its StartMashreq Growth Track program, which aims to boost early-stage startups in the Middle East and North Africa region.

The startups from Jordan, Lebanon, and Iraq operate in sectors including FinTech, HealthTech, AgriTech, and eCommerce. In addition, five of the chosen companies were cofounded by female entrepreneurs.

Collectively, the winning startups generate annual recurring revenue of over $20 million and have raised nearly $40 million in funding, according to Flat6Labs. Perhaps most importantly, the 24 companies in the StartMashreq program have also generated around 700 job opportunities.

“We are confident that [the startups] have what it takes to succeed in their markets. Through our program, we will offer them tailored support and guidance to help them overcome their challenges and achieve their goals. We look forward to working with them over the next six months and beyond,” said Ragia Amr, program director of StartMashreq at Flat6Labs.

Started in June, StartMashreq will run until December 2024, giving the selected startups access to new markets plus allowing them to scale operations and increase their impact on their respective economies.

As for the program itself, StartMashreq will include workshops and mentorships by international experts, networking events, and roadshows.

Also Read: Saudi Arabia’s Gaming Sector Is Quickly Gathering Momentum

Since its launch in 2011, Flat6Labs has been a major player in the MENA region’s entrepreneurial scene, managing a number of seed funds whose assets exceed $95 million.

In February, Flat6Labs announced a $20 million startup seed fund in Saudi Arabia aimed at supporting entrepreneurs in the Kingdom by investing in early-stage startups in the technology and innovation sectors.

The selected startups are:

Lebanon

Compost Baladi: A social enterprise that provides waste management solutions.
Ecomz: An e-commerce platform that enables merchants to create online stores.
KamKalima: An edtech platform that helps Arabic teachers and students.
Moodfit: An online interior design service that connects clients with designers.
Presentail: An online gift delivery service that connects expats with local shops.
Purpl: A proptech platform that simplifies property management.
Shelvz: A retail intelligence platform that helps brands optimize their shelf presence.

Iraq

KESK: A fintech platform that provides digital banking services.
Lezzoo: A super app that offers delivery, e-commerce and payment services.
Midient/Padash: A cloud kitchen platform that enables food entrepreneurs to launch online brands.
Orderii: An online marketplace that connects customers with local service providers.
Toolmart: An e-commerce platform that sells tools and hardware products.

Jordan

Algebra Intelligence: A healthtech platform that provides AI-powered medical diagnosis.
Arab Therapy: An online platform that connects users with licensed therapists.
Dinarak: A fintech platform that offers mobile wallet and payment services.
Hello World Kids: An edtech platform that teaches coding to children.
InvoiceQ: A fintech platform that provides invoice financing solutions.
Jordilight: An energy tech company that produces solar-powered street lights.
Konn Technologies: A fintech company that offers blockchain-based solutions.
Little Thinking Minds: An edtech company that creates digital learning products for children.
Nestrom: An agritech company that provides farm management software.
Palmear: An e-commerce platform that sells handmade products from local artisans.
Repzo: A mobile CRM platform that helps sales teams manage their activities.
Shop4Me: An e-commerce platform that delivers groceries and other products.

News

Yango Ride Expands Corporate Transport Service In Abu Dhabi

Known as Yango Rides for Business, the solution aims to simplify business travel management for companies operating across Emirates.

Published

24 hours ago

February 18, 2025

Nour Nasir

yango ride expands corporate transport service in abu dhabi

Yango Ride, a global ride-hailing service under the Yango Group, has extended its corporate transport solution, Yango Rides for Business, to Abu Dhabi. Initially launched in Dubai in 2024, the company is now expanding in a bid to simplify business travel for companies operating between both Emirates.

Yango Rides for Business offers a streamlined way to handle employee transportation through a single platform. Instead of dealing with the hassle of prepayments or reimbursement claims, businesses will be able to consolidate all ride expenses under a single corporate account that’s billed monthly. The setup makes it easier to track spending while ensuring expenses remain fully tax-deductible.

A key advantage of the service is its flexibility, allowing managers to set ride permissions and budget limits for employees and clients. Businesses can tailor transport solutions based on team needs — whether for daily commutes or specific travel requirements. Additionally, a dedicated account management system provides real-time analytics, enabling firms to monitor usage patterns and optimize costs.

Islam Abdul Karim, Regional Head of Yango Middle East, highlighted the importance of this expansion, explaining: “Abu Dhabi’s 4.5% economic growth in Q3 2024 reflects a thriving business environment where seamless mobility is essential for productivity. Yango Rides for Business simplifies corporate transportation, reducing administrative tasks and optimizing costs. By providing a centralized solution, we help companies ensure smooth employee travel experiences, supporting efficiency and growth in this dynamic market”.

Also Read: Dubai Teams Up With Elon Musk’s Boring Company For “Dubai Loop”

Meanwhile, Ivan Kaplunovich, Head of Yango Rides for Business, emphasized the benefits of the service, adding: “Today’s businesses need to balance cost efficiency with flexibility in a fast-changing environment. Yango Rides for Business gives companies a seamless way to manage corporate transportation — from controlling expenses and booking rides to simplifying billing and generating custom reports. With this level of flexibility, businesses can stay focused on growth, innovation, and delivering value”.