138 Pyramids targets funding start-ups with EGP 1m

Shaimaa Al-Aees
1 Min Read

138 Pyramids, a development finance initiative, aims to finance new start-ups with funds worth up to EGP 1m, according to senior financial analyst Karim Gad.

Gad said that the company was launched in 2014 and aims to play an active role in supporting Egyptian start-ups and enhancing the development of the small- and medium-sized enterprise (SME) sector.

Gad added that the company is financing new start-ups that have actual projects already up and running. In return, his company will obtain 20% equity.

138 Pyramids provides these start-ups with legal services, mentor-ship, and financial analyses. The company essentially acts as a partner to the start-ups that acquire its funding, according to Gad.

The company’s clients include FooolTank, Temraza, Dockland, the Hot Dog, Proten Misura, and Bookra Agency.

138 Pyramids is participating in RiseUp Summit 2016, being held in Cairo from 9-11 December.

Gad noted that during the company’s participation in RiseUp it plans to target new start-ups to fund in the coming year.

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