With the continuation of AFCON 2019, we’ve updated you with a bunch of news this week for the competition. It’s time to divert for a bit, but not very off path, as our news still maintains a strong connection with the African Cup. ArabFinance has stated that the leading Daily Fantasy Sports (DFS) platform in the MENA region and the GCC, announced a six-figure seed investment from 500 Startups, a California-based venture capital firm that has an investment portfolio of over 2,000 companies in more than 74 countries.
But what is Eksab? ArabFinance explains that users make predictions, via Eksab, about live football games from around the world, and collect points based on the accuracy of their predictions and then get rewarded with prizes. In its first year, Eksab processed more than 5 million predictions. Now, with the seed investment from 500 Startups, Eksab plans to scale its product to the entire region to reach 100 million forecasts over the next year.
The service couldn’t have aimed at a better target audience, with 1 billion football fans across the Middle East and Africa, who are known for their outspoken and fervent, though slightly aggressive at times, passion and love for football. The Co-founder and CEO, Aly Mahmoud, who founded the service in 2017, said, “We live in a region that is obsessed with football. I remember going out to hand out flyers on the day that Egypt made it to the World Cup. People were fighting over Eksab flyers with the Egyptian team’s picture on them.”
Sharif El-Badawi, partner at 500 Startups, expressed his keen interest in the winning startup, “Their team is very focused on the user-experience, talking to their users daily while iterating to deliver the most engaging platform possible. We believe we can add significant support to Eksab with our investment.”
Furthermore, Eksab is offering free advertising sponsorship packages to 10 MENA-based startups who are interested in reaching a community comprised mostly of males, between the ages of 14-49, interested in football and technology. For more information, check out Eksab’s Facebook page.