ⓘ Featured image: Aly Mahmoud, CEO of Eksab; Credits: Supplied
Cairo, Egypt-based Eksab, the leading daily fantasy sports (DFS) platform in the Middle East and Africa, on Tuesday announced that the company has raised $500,000 from 4DX Ventures, with participation from other strategic investors within the international sports and entertainment ecosystem.
Founded in 2017 by Aly Mahmoud (CEO) and Ahmed Omran (CTO), Eksab aims to make every match more exciting by leveraging over 1 billion football fans across the Middle East and Africa. Users sign up to the platform at www.yallaeksab.com, join both free and paid competitions, make predictions on live international football games, collect points based on the accuracy of their predictions and then get rewarded with prizes or cash.
Speaking of the development, Aly Mahmoud Co-founder & CEO of Eksab, in a statement said,
“Daily Fantasy Sports and monetized competitions are a multi-billion dollar a year industry in the US. Our goal is to become the premier sports entertainment company in the MEA region by offering exciting Fantasy Sports competitions as well as highly engaging local sports content. We’re bringing the FanDuel and DraftKings model to the world’s largest football market,”
With the investment from 4DX Ventures, Eksab plans to scale its product to the millions of football fans in the region with the goal of launching its first paid competitions over the next year.
Peter Orth, Partner at 4DX Ventures, said,
“We see the region as one of the most exciting and underserved markets for a sports entertainment platform. We’ve been really impressed with Aly’s vision for a next-generation and technology-driven platform that is also highly tailored to local fans and their preferences. We’re excited to be on this journey with Aly and the rest of the Eksab team.”
Sharing Eksab’s goals, Aly Mahmoud added,
“Our ultimate goal is to provide an unmatched daily source of entertainment, engagement and content for the region’s football fans” highlighted Aly Mahmoud. There has never been a more exciting time to be a football fan in the Middle East and Africa. Over the next year, we plan to work with a select group of partners to make the experience even more immersive. We’re excited to have 4DX with us on this journey.”
Eksab, last year in June closed a seed funding round of an undisclosed amount from 500 Startups.