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.