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

3 years 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.

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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

Lebanon Ministers Meet Visa Over National Digital Payment Platform

Finance and technology ministers say a comparative study and roadmap will follow before any decision on adopting a model.

Published

20 hours ago

May 5, 2026

Joanna Melki

lebanon ministers meet visa over national digital payment platform

Lebanon’s finance and technology ministers met representatives from Visa last week to discuss a proposed unified national digital payment platform for government services, according to a readout from the Ministry of Finance.

The meeting brought together Finance Minister Yassin Jaber, Minister of State for Technology and Artificial Intelligence Kamal Shehadeh, a Visa delegation, and experts from both ministries. Discussion focused on whether Lebanon could establish a single platform through which citizens and institutions would pay taxes, fees, fines and other official transactions electronically, using mobile phones and other digital channels.

The Visa delegation presented examples from countries that have adopted unified government payment platforms, including the United Arab Emirates, Singapore, Estonia and Jordan. According to the readout, the examples were presented as having increased collection rates and expanded financial inclusion.

Talks covered settlement mechanisms, direct transfer to the treasury account, financial reconciliation, risk management, cybersecurity, fees, and an operational model that would involve the private sector. The parties agreed to continue technical and institutional consultations, prepare a comparative study, and develop an implementation roadmap before any decision on adopting a model for Lebanon.

Jaber said the Ministry of Finance had already enabled citizens to pay using credit cards and e-wallets through transfer companies, but described the proposed platform as a further step. He framed the development of electronic payment and collection systems as a priority within the ministry’s modernization plan.

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Shehadeh outlined the citizen-facing concept as a single mobile application through which users could settle obligations to ministries, government institutions and other bodies.

“The idea, in short, is that any citizen downloads an application on their mobile phone, through which they can pay all service obligations for all ministries, government institutions, or those owned by the Lebanese state, and others as well, as the platform is not limited only to state institutions,” he said.

Shehadeh added that the platform would not displace banks and money transfer companies that currently provide collection services to the state, calling it complementary to their work.