May 9, 2018 IBOMLLC Team

Egypt’s WUZZUF raises $6 million in Series B funding round

Innov8tiv
Innov8tiv – Blacks In Technology in USA, UK, Caribbean Islands & Africa

WUZZUF, the Egyptian jobs search company successfully raised $6 million in Series B funding round. The company intends to put that money towards expanding its operation in Egypt and build a bigger team.

WUZZUF has risen to become Egypt’s number one jobs search site, and it was the first Egyptian startup to participate in the 500 Startups accelerator program that took place in San Francisco back in January 2014. That was barely two years after the inception of the startup.

This series of funding follows the $1.7 million funding back in 2015 and the acquisition of a job assessment platform Viriphi the next year. The Series B funding of $6 million becomes the second largest funding given to a tech startup in Egypt. It comes second to the $8 million round raised by Swvl, a ridesharing platform.

The WUZZUF Series B Funding was led by the European Bank for Reconstruction and Development (ERBD), US firm Endure Capital, Swedish Vostok New Ventures, and UK’s Kingsway Capital.

Part of the money will also go into research and development to come up with how to integrate artificial intelligence (AI) and machine learning …read more

Read more here:: Egypt’s WUZZUF raises $6 million in Series B funding round

      

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