Egyptian e-commerce startup ExpandCart has secured US$150,000 in funding after being selected into the Hong Kong-based Betatron accelerator.
ExpandCart is a comprehensive, cloud-based e-commerce platform, similar to Shopify but designed specifically for the Arabic language and the Middle East and North Africa (MENA) region.
The startup is one of eight from around the world to be accepted into the fifth cohort of the three-month Betatron accelerator, which invests US$150,000 in each company. The programme, which ends in December, is designed to accelerate business growth and help each startup move towards its next funding round.
All participating startups have been allocated a lead mentor from Betatron’s network of ventyure capitalists and selected industry experts, and will also receive hands-on mentorship and support in areas such as sales, marketing, tech development, UI/UX, legal, and accounting.
Betatron said it received 1,301 applications from across the world for the programme, with the other startups selected hailing from Hong Kong (2), Singapore (3), the Philippines, and the United States (US).