Egyptian startup Educatly, a premier global network in higher education, has raised a US$2.5 million funding round to further develop its product and solidify its presence in key markets such as Egypt, Saudi Arabia, the United Arab Emirates, Nigeria, Kenya, and Ireland.
Founded by Mohamed El-Sonbaty, Abdelrahman Ayman and Joan Manuel in 2020, Educatly democratises access to higher education opportunities by allowing students to search, compare and apply to over 130,000 live and up-to-date higher education opportunities from more than 1,100 universities across 90 countries.
The platform serves over three million students, and targets reaching seven million students by the end of 2024. With that goal in mind, it has now secured a US$2.5 million round of funding led by TLcom Capital and Plus VC, with participation from Egypt Venture and Ireland’s HBAN syndicate.
“When we first launched Educatly, our aim was to bridge the gap between students’ educational needs and the available educational opportunities to align with their capabilities and ambitions,” El-Sonbaty, the startup’s CEO, said.
“Today, we are proud to receive this new investment, which reaffirms our commitment to continue working towards our vision and strategic goals through an ambitious plan aimed at increasing growth and expanding our operations in Africa and the Middle East. It will also enhance the services we provide to reach more students around the world and help them achieve their goals.”
Educatly raised a US$1 million pre-seed round of funding back in November 2021, and has research and development centres in Cairo and Dubai with investments totaling US$500,000 per year aimed at developing a digital platform that meets global standards to enable students to seamlessly access various tailored services.
