[FUNDING NEWS] Egypt-Based Educatly has Raised $2.5 Million in New Round Funding

Egypt-based edtech Educatly raised $2.5 million from TLcom Capital and Plus VC. Egypt Venture and HBAN (Ireland) participated in the round. Mohamed ElSonbaty, Abdelrahman Ayman, and Joan Manuel founded Educatly in 2020 to democratise higher education.

The money will strengthen Educatly’s footprint in Egypt, Saudi Arabia, the UAE, Nigeria, Kenya, and Ireland. Educatly raised $1 million pre-Seed from Falak Startups, Enterprise Island, and angel investors in 2021.

Leading international network for higher education, Educatly, has announced that it has raised an additional $2.5 million in funding, with TLcom Capital and Plus VC leading the round. Egypt Venture (Egypt) and the HBAN syndicate (Ireland) also participated in the round.

Read also- Egypt-Based MNT-Halan Acquired with Tam Finans

The financing not only validates the company’s successes but also strengthens its position in the Middle East and Africa, encompassing important markets like Egypt, Saudi Arabia, the UAE, Nigeria, Kenya, and Ireland.

Read also- India’s Ola Electric announces $734m IPO pricing range

It was founded in 2020 with the goal of helping students find the answers to the most important issues regarding what and where to study in order to have a successful career. The website offers details on numerous programs and scholarships, in addition to information on all kinds of colleges and universities across the globe.

Engineer Mohmmed El-Sonbaty, Founder and CEO of Educatly, stated, “Today’s announcement marks a significant milestone for Educatly. 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. 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.”

Large language models (LLM) and sophisticated artificial intelligence (AI) are used by Educatly to guarantee information accuracy so that students may make wise selections. Furthermore, Educatly facilitates easy communication between colleges and students; at the moment, the platform includes over 1,100 universities in 90 different countries.

Dr. Abdelrahman Ayman, Co-Founder and Chief Operating Officer of Educatly, added, “This fund highlights the potential of educational technology in the region. Since the launch of Educatly, we have offered a wide range of services, with our business model focusing on three main pillars: helping students choose their fields of study, find the ideal programs and universities, and connect with students and Alumni around the world. We provide a comprehensive digital map of educational institutions worldwide to assist users. We also offer financial support through diverse instalment systems in collaboration with our partners, helping students access the best educational programs based on their needs. To date, we have reached over 3 million students and aim to increase this number to approximately 7 million by the end of 2024.”

It has grown rapidly, especially since its $1 million pre-seed fundraising round with Enterprise Ireland, Falak Startups, and others. This investment followed the platform’s late 2020 launch. It also has research and development labs in Cairo and Dubai that invest $500,000 a year to create a global-standard digital platform for students to smoothly access customised services.

About Educatly

Educatly is an innovative software platform that lets students study abroad at foreign colleges and helps universities recruit students globally.