Egyptian ed-tech startup Almentor secured $10 M Pre-series C funding to spur expansion
Almentor, the top Arabic online video learning platform based in Egypt, has secured a $10 million pre-Series C round of investment to fuel its expansion and get closer to its target of servicing 10 million learners across the MENA region.
Almentor was established in 2016 and has collaborated with over 950 eminent specialists to provide over 1,000 online courses for people, businesses, and governmental organizations. High-quality Arabic information is combined with a personalized learning experience.
With an option of a monthly or annual membership, students get unrestricted access to a library of over 700 courses on subjects as varied as health, humanities, technology, entrepreneurship, business management, lifestyle, drama, sports, corporate communication, and digital media.
With a goal of serving 10 million students throughout the MENA region, the firm has recently secured a $10 million pre-Series C financing headed by e& capital, etech &’s investment division. The new investor e& Capital joins the group that already includes Partech, Sawari Ventures, Egypt Ventures, Sango Capital, and Endure Capital. In particular, aimentor will utilize the money to boost its B2C investment and grow in Saudi Arabia.
“Empowering ten million learners is a key milestone in almentor’s broader vision of creating hope and development opportunities for the people in MENA. We are very proud and excited to partner with an institution such as e& to create further impact in almentor’s journey,” said Dr. Ihab Fikry, co-founder and CEO of Almentor, and Ibrahim Kamel, co-founder, and COO.
Vice President at e& Capital Eddy Farhat asserted that he thought the delivery and consumption of education were at a turning point.
“Our investment in almentor aims to capitalise on this economic opportunity while driving tangible educational impact in our fast-growing region. We believe that almentor’s personalised learning experiences and high-quality Arabic content will be instrumental in achieving this goal. We are impressed with the experience of the founding team and the fresh perspective that the new senior hires bring onboard, and we will collaborate with them to support their vision and help them realise their aspirations,” he said.
