WUZZUF lands $6 Million Series B Round from ERBD, Vostok and Endure Capital

WUZZUF lands $6 Million Series B Round from ERBD, Vostok and Endure Capital

2018-05-02

WUZZUF and Forasna has announced landing a $6 Million Series B funding round, making this historic investment the largest disclosed round in Egypt.

 

The funding round is led by four European and US VC funds, the European Bank for Reconstruction and Development (ERBD), through its VC Investment Programme investing in CEE/MEA based early and growth stage technology companies, along with Vostok New Ventures (Sweden), Endure Capital (US) and Kingsway Capital (UK).

 

BasharSoft, the company behind both WUZZUF and Forasna had previously raised a $1.7m Series A round in 2015 from Vostok New Ventures, 500 Startups and Endure Capital. 

For future plans, WUZZUF and Forasna will focus on fueling more growth in and out of Egypt  as well as reach the target of one million people hired annually on both platforms by 2020. Another major part of the funds will be directed towards Research and Development to incorporate AI and ML in connecting job seekers more efficiently with more jobs."