Egyptian networking app Tays raises pre-seed funding round

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Egypt-based networking app Tays has raised a seven-figure (EGP) pre-seed investment from several angel investors to kickstart its operations at home and launch into new markets.

Co-founded by Sherif Bacheet and Fady Yonathan, Tays offers an end-to-end social networking app that uses a unique machine learning algorithm to help professionals connect with each other based on mutual business interests.

After nearly a year of development, Tays has now raised a seven-figure pre-seed investment from various angel investors from within the Egyptian startup ecosystem, which will enable it to start operations across Egypt and the MENA region.

“The ongoing pandemic has highlighted how difficult it is to create meaningful professional connections,” Bacheet said.

“With this pre-seed investment, we hope to launch our platform and enable the entire MENA to begin expanding their professional networks at unprecedented rates.”

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Passionate about the vibrant tech startups scene in Africa, Tom can usually be found sniffing out the continent's most exciting new companies and entrepreneurs, funding rounds and any other developments within the growing ecosystem.

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