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almentor raises $10m to accelerate growth in MENA
almentor, an Egyptian edtech company, has raised $10 million in growth capital in a pre-series C round led by e& capital, the tech investment arm of e&. The company will use the funds to accelerate its growth towards its goal of serving ten million learners in the MENA region.
almentor combines personalised learning experiences with high-quality Arabic content, and its mission is to increase accessibility to affordable quality education for Arabic-speaking communities. The MENA region has more than 400 million Arabic speakers with underserved educational needs. The region’s population is growing at a faster pace than that of developed markets, but it remains lagging in spending and investment in education.
Dr Ihab Fikry, co-founder and CEO of Almentor, mentioned that “empowering ten million learners is a key milestone in almentor’s broader vision of creating hope and development opportunities for the people in MENA.”
Eddy Farhat, vice president at e& capital, believes that almentor’s personalised learning experiences and high-quality Arabic content will be instrumental in achieving this goal.
The funds will be used to increase almentor’s investment in the B2C segment and to expand in Saudi Arabia.
The company has recently made several senior hires and key promotions, including Sonia Lekhal as chief customer officer, Adel Khalil as chief technology officer, Sally Metwally as chief business development officer, Tharwat Ibrahim as chief finance officer, and Ahmed Faysal as chief content production officer. These hires will enable almentor to unlock its next stage of growth.
almentor has worked with more than 950 mentors since its inception in 2016 to create over 1 000 online courses for individuals, corporations, and government entities. It recently launched its monthly and annual subscription plans, where learners get unlimited access to a library of over 700 courses on topics as diverse as health, humanities, technology, entrepreneurship, business management, lifestyle, drama, sports, corporate communication, and digital media.
Ziad Awad, CEO of Awad Capital, commented that they are proud to be supporting almentor in its mission of bringing affordable quality education to all. almentor’s success in raising $10 million in growth capital in a pre-series C round led by e& capital is a testament to its mission and vision of creating hope and development opportunities for the people in MENA.
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