Egyptian Startup Educatly Secures $2.5 Million in Funding to Expand in MENA Region
The Egyptian startup Educatly, a leading global network for higher education, is poised for significant growth in the MENA region following a successful $2.5 million seed funding round.
Founded in 2020, Educatly democratizes access to higher education by enabling students to search, compare, and apply to over 130,000 active opportunities across more than 1,100 universities in 90 countries.
The platform serves over three million students and operates in Egypt, Saudi Arabia, the United Arab Emirates, Nigeria, Kenya, and Ireland. Aiming to reach seven million students by the end of 2024, it has recently secured $2.5 million in funding from TLcom Capital, Plus VC, Egypt Venture, and the Irish syndicate HBAN.
Educatly's expansion strategy focuses on several key pillars. The first is regional growth, aiming to attract more students beyond the current three million. Plans include establishing a physical presence in the United Arab Emirates and Saudi Arabia, with significant potential identified in the rest of North Africa.
The second pillar focuses on investing in technology, leveraging artificial intelligence to reach a larger number of students more quickly.
The platform concentrates on three key areas: students, universities, and financial support.
Educatly helps students choose specializations, find matching programs and universities, and facilitates enrollment at undergraduate and postgraduate levels. It also connects students with their peers in their target universities and provides a digital map of global educational institutions. Additionally, Educatly partners outside of Egypt to offer financial support through payment plans.
Notably, the startup achieved a revenue of $1.5 million in 2023, up from $200,000 in 2022, as the startup grows, 2024 is expected to be even better.
