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Monday, 2 November 2020

Alex Angels reinvests in Mumm, Ordera, and El Gameya

STARTUP WATCH- Alex Angels plans to make follow-on investments in Mumm, Ordera, and El Gameya as part of its new EGP 100 mn startup fund, Chairman Tarek El Kady said, according to Al Mal. El Kady said the fund would be writing cheques in the EGP 500k to EGP 2 mn range for each investment it makes. The launch of the fund had been postponed from September to November as a result of administrative procedures. Alex Angels had previously invested an undisclosed sum in homemade food delivery platform Mumm in April this year, a six figure sum in collaborative savings app El Gameya in August, and a six-figure USD sum in on-demand food booking app Ordera in the same month.

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