Tech

Egyptian cybersecurity startup, Buguard raises $500,000 in seed fund

Published

1 year ago

August 11, 2023

Egyptian-run cybersecurity startup, Buguard has announced raising the sum of $500,000 in seed funding to enable it achieve its expansion drive into the Gulf region.

According to the founder and CEO of the Cairo-based offensive security and dark web monitoring company, Youssef Mohamed, the funds will afford the startup the opportunity to “offer its offensive security services including penetration testing and vulnerability assessment, phishing simulation, compromise assessment, threat intelligence and red teaming” to clients in the region.

The seed round, Mohamed said, was led by A15, a MENA venture capital firm, with participation from angel investors, and was the first external funding the startup had taken on, having bootstrapped since it commenced operations.

“We are delighted to announce our fund raise, and I thank A15 for its great support. The world of dark web cyber threats is very real, dynamic and growing,” Mohamed said.

“Any company can be a victim and one must be prepared. Our team at Buguard is hand-picked and includes some of the world’s leading security researchers and engineers, coupled with a subscription-based, SaaS product – Dark Atlas – that goes broader and deeper than existing alternative solutions.

“We are already globally-facing with clients across the world, but our immediate strategy is to grow even stronger in the GCC. We look forward to expanding into Saudi Arabia during 2023 and using our proceeds to help fulfil our significant growth potential,” he added.

The startup has served many of Egypt’s leading businesses in their respective fields, including Paymob, Fawry, EFG-Hermes, Halan, Lucky, Thndr, MaxAB, Eksab, Rabbit Mart, amongst others, while also developing a global client base spanning Saudi Arabia, the United States, France, Australia, Japan, the United Kingdom, Singapore, and the United Arab Emirates.

Related Topics:Buguard Cyberattacks Cybersecurity Egypt Featured Funding

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Tech

20 African tech-preneurs embark on Korean innovation tour

Published

43 minutes ago

December 22, 2024

Isaac Dachen

The African Development Bank Group’s Innovation and Entrepreneurship Lab has selected 20 promising tech entrepreneurs from various African technology ventures and enterprise support organisations to embark on a two-week study tour of the Republic of Korea, with the aim of seeking investment and insights from the country’s innovative tech ecosystem.

The selected entrepreneurs are from 133 ventures that participated in last month’s Africa Tech Startup Forum.

The forum which will hold under the auspices of the lab’s “Leveraging the Entrepreneurial and Innovation Success of Korea to Strengthen African Enterprise Support” project, had selected entrepreneurs who pitched the best business models during the week-long virtual market access and acceleration programme preparing, training, and connecting technology ventures with opportunities.

The 20 young tech-preneurs were selected from eight African countries including Nigeria, Egypt, Ghana, Kenya, Morocco, Rwanda, South Africa, and Uganda, with the delegates spanning various sectors in the technology space.

While in Korea, the African delegates will pay visits to prestigious institutions such as Global Startup Centre, LG Science Park, the Korea Software Technology Association, and the Global Digital Innovation Network.

Speaking on behalf of the delegates, founder of Kenya-based health technology venture Zuri Health, Uche Ezadinachi said:

“I am excited to go to Korea because the country has made serious technological developments. The country is a technology-driven society, and this tour is an opportunity for me to see how we can bring such technology to Africa.

“We will share experiences with our Korean counterparts; they will learn from us as much as we learn from them,” he added.

Tech

Kenya’s ticketing startup BuuPass partners Flexpay for flexible travel payments

Published

3 days ago

December 19, 2024

Isaac Dachen

Kenyan digital ticketing startup, BuuPass, has entered into a partnership with goal-based savings platform, Flexpay, to offer customers flexible payment plans ahead of holiday travels as well as simplify travel planning and ease the financial burden of holiday travel for Kenyans.

Co-founder and CEO at Buupass, Sonia Kabra, who unveiled the package at a press conference, said the collaboration between the two platforms will allow travellers to save for their journeys in manageable, interest-free installments over four to 12 weeks.

“Travelers can select their travel dates, book tickets, and pay a small deposit upfront, with the remaining balance spread across weekly or monthly payments,” she said.

“This approach offers a stress-free way for families and large groups to secure their tickets early, helping them avoid last-minute price hikes as fares are locked in.

“By partnering with Flexpay, we’re giving travelers the flexibility to budget for their trips in advance. This initiative aligns with our mission to make travel accessible to everyone, providing a solution that meets customers where they are financially,” said Kabra.

Also speaking at the event, Richard Machomba, CEO and founder of Flexpay, said:

“Flexpay’s mission is to empower individuals by providing accessible financial solutions that make it easier for them to achieve their financial goals.

“By partnering with BuuPass, we’re making travel more accessible and stress-free for Kenyans, especially during the holiday season when expenses can be overwhelming,” Machomba added.

Founded in 2016 by Kabra and Wyclife Omondi, BuuPass is a B2B2C mobility marketplace that enables users to search, compare, and book travel tickets via web, app, or USSD, while its SaaS platform helps bus operators manage their operations, inventory, and sales.

FlexPay, on the other hand, is an online and offline payment gateway that allows merchants to offer interest-free targeted savings to their customers in Africa.