Back to the complete issue
Wednesday, 10 July 2019

Ride-hailing startup Wasel launches 15 new lines, Dubci launches in Egypt

STARTUP WATCH- Looks like the ride-hailing market is alive and kicking after all: Mass transit startup Wasel has launched 15 new lines from Cairo to other governorates, bringing its total lines to 43, founder Ahmed Elrawy said. The company last year secured USD 26k (c.EGP 500k) in funding from the British Embassy, and has now introduced lines in Minya, Beni Suef, Assiut, Fayoum, and Hurghada.

Dubci, a new ride-hailing company, is launching in Egypt within the next few weeks, the company said in a statement yesterday. In other signs that the ride-hailing space in Egypt is doing just fine, Cairo-based tuk-tuk and motorcycle ride-hailing startup Halan also launched earlier this week an advertising service, while Swvl pulled off the largest ever funding round for an Egyptian startup in late June, raising USD 42 mn in series B2 funding.

Will the ECA calm down now? The string of ride-hailing expansions put to be concerns repeatedly voiced by the Egyptian Competition Authority (ECA) regarding a recent merger between Uber and Careem. The ECA had said that the agreement could “lead to a significant impediment on effective competition in the markets” and previously threatened each company with a fine of up to EGP 500 mn.

Enterprise is a daily publication of Enterprise Ventures LLC, an Egyptian limited liability company (commercial register 83594), and a subsidiary of Inktank Communications. Summaries are intended for guidance only and are provided on an as-is basis; kindly refer to the source article in its original language prior to undertaking any action. Neither Enterprise Ventures nor its staff assume any responsibility or liability for the accuracy of the information contained in this publication, whether in the form of summaries or analysis. © 2022 Enterprise Ventures LLC.

Enterprise is available without charge thanks to the generous support of HSBC Egypt (tax ID: 204-901-715), the leading corporate and retail lender in Egypt; EFG Hermes (tax ID: 200-178-385), the leading financial services corporation in frontier emerging markets; SODIC (tax ID: 212-168-002), a leading Egyptian real estate developer; SomaBay (tax ID: 204-903-300), our Red Sea holiday partner; Infinity (tax ID: 474-939-359), the ultimate way to power cities, industries, and homes directly from nature right here in Egypt; CIRA (tax ID: 200-069-608), the leading providers of K-12 and higher level education in Egypt; Orascom Construction (tax ID: 229-988-806), the leading construction and engineering company building infrastructure in Egypt and abroad; Moharram & Partners (tax ID: 616-112-459), the leading public policy and government affairs partner; Palm Hills Developments (tax ID: 432-737-014), a leading developer of commercial and residential properties; Mashreq (tax ID: 204-898-862), the MENA region’s leading homegrown personal and digital bank; Industrial Development Group (IDG) (tax ID:266-965-253), the leading builder of industrial parks in Egypt; Hassan Allam Properties (tax ID:  553-096-567), one of Egypt’s most prominent and leading builders; and Saleh, Barsoum & Abdel Aziz (tax ID: 220-002-827), the leading audit, tax and accounting firm in Egypt.