Eksab receives $ 3M to expand stadium in MENA and Africa – TechCrunch

Football or soccer, which is the most commonly used in the US, is the most popular and watched sport around the world with more than five billion football players according to its apex management team, FIFA.

While the World Cup, its high -profile football event and the world’s most famous debate, showcases the sport’s popularity in full colors, it is the annual leagues in various countries in Europe, South America, Asia and Africa are facing a difficult situation. football players featured.

FIFA said the United States, the Middle East and Africa are among the most favorite archives in the world. With fans of various sports including football, becoming increasingly interested in the virtual powers of their favorite sport, beginners from these countries are starting to satisfy their cravings by providing thought -provoking sports fields.

Today’s news comes from the Middle East and Africa where Eksab, an Egyptian stadium that claims to be enjoying football and socializing for every club in two locations in of gaming and online community building, has raised $ 3 million in revenue.

The circle led by 4DX Ventures Sees entry from Darwazah Capital, Golden Palm Investments, P1 Ventures and other angel investors from the sports and entertainment industry, the company said.

Eksab said it plans to use the property to expand its user base in MENA and Africa. Some of the money will go towards product development, hiring talent in engineering and product teams and implementing teams with football teams.

Founder and Director Aly Mahmoud started Eksab in 2018. “Eksab’s mission is to make football more exciting for every footballer in the Middle East and Africa, “he told TechCrunch in an interview.

Eksab is set up with a prediction game where users create fantasy lineups and enter free or paid tournaments. There is a board to show how well they work; winners receive cash and other prizes.

More recently, Eksab has started searching for information for users to get news and updates about their favorite players and teams, using that Know to better understand their decision.

In the long run, Eksab plans to build an integrated base that as he says, he will see it become a go-to platform for football-to-get in the game, see, stats, NFTs, data collections and customers.

Eksab takes a percentage of all fees paid on the platform, especially on premium contests and customers.

Mahmoud, who has worked at a startup incubator in Canada since he had the idea for Eksab, said he built the platform with encouragement from incumbents such as Dream 11, DraftKings and with FanDuel and newcomers introducing web3 to the world of mind games like Sorare. . Others such as Draftea are showing potential in other locations outside the US and Europe.

“During my time there, I saw the rise of DraftKings and FanDuel. My friends were playing these two games and even though I didn’t know much about Canadian sports, that was “hockey, I know that playing these games is the easiest way for me to learn about sports and how to develop that sense of belonging. with my friends,” he told her. TechCrunch.

“I enjoyed the games and I know‘ why no one is going to do this for the hundreds of millions of football players in the Middle East and Africa, ’” he said. “So we did some research and we saw there was a huge market space for this kind of game [fantasy football] in the Middle East and Africa.

Eksab currently has over 700,000 users in Egypt on its site who participate in mindfulness and prediction contests on a daily, weekly and monthly basis. There are more than a million ‘votes’ every month and sby the time its competitive launch in 2021, its user base had grown by an average of 60% month-on-month, the company said.

In an order to further expand its technology, Eksab said it is planning to integrate with blockchain platforms that will allow players to increase the speed and clarity of web3.

“As a football player, what do you like to do online? Buy clothes, play with players of your favorite team in your fantasy lineup, get news and stats for favorite players, ”the founder said.

“We want to build this so that fans can get all of this from one place and in a game-and-find way every relationship you make on our site will be You get rewards that you can use to get involved in more fights. “

According to its founder, Eksab is the only leading think tank in Egypt; Most importantly, it is small and there is no competition locally or MENA. In addition to obtaining licenses to operate three new markets by the middle of this year, CEO Mahmoud told TechCrunch that his job is on the side of signing a partnership with one of the companies. largest football in the Middle East and Africa.

And with the World Cup approaching after November, and for the first time in the Middle East (Qatar), Eksab sees itself in an independent position to dominate the growing football market in the region. two.

“We started with football because it is the biggest sport that people care about. As the World Cup approaches, we will spend a lot of time teaming up with unique football players to improve our platform and our user base, ”said the CEO.

“But if we think we’re confident we’ve played football and we’re doing the best we can there, then we’re going to start opening up other sports like that. the market. “

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