Operating in Heliopolis, Downtown, and El-Gouna, MQR is now well-capitalised to expand to even more locations
Without giving numbers, Acasia Angels has announced its investment in MQR, on September 4th. The deal marks the first investment by the Acasia Angels in this sector, and the third investment this year.
Operating in three locations across Egypt: Heliopolis, Downtown, and El-Gouna, MQR is now well-capitalised to expand to new locations, enhance its operations, and provide more products and services to its fast-growing base of customers. “Adequate infrastructural support for entrepreneurs, startups, freelancers, creatives and SMEs remains a problem and MQR offers a cost-effective and compelling solution that addresses this area,” says Acasia Group’s CEO Aly El Shalakany.
“We didn’t only need a financial boost, but rather a backbone; true believers who can mentor, guide, and direct,” says Co-Founder and CEO of MQR Muhammad Nagi. “Acasia Angels believes in what we do, and they see the potential of our business the same way we do. This is the core asset of our partnership.”
The investment is part of an angel investment round that also includes Alex Angels – the first syndicated angel investment between both angel investment networks. Acasia Angels is Egypt’s first formal network of angel investors and – just like its name suggests – is headquartered in the Egyptian Capital, with operations in London covering European startup ecosystems and Dubai covering the Gulf’s startup ecosystems.
News source: StartupSceneME
