Tech entrepreneurs in Egypt and Tunisia are among those whose access to funding could improve following the announcement by the regional investment and accelerator company Flat6Labs of a collaboration with the Saudi angel network OQAL.
Flat6Labs is a regional startup accelerator and seed investment company with operations in Cairo and Tunis, as well as Jeddah, Abu Dhabi and Beirut.
The company has entered into a partnership with the Saudi Arabian Angel Investor Network OQAL to further the growth of start-ups in the Middle East and North Africa (MENA) region by introducing the Flat6Labs network of start-ups to the OQAL network of angel investors.
OQAL will be provided with direct access to Flat6Labs portfolio companies , enabling more deals to be made efficiently and helping Flat6Labs startups to scale up the funding provided by OQAL’s investor network.
“Today, we are very happy about our relationship with OQAL. It marks another building block in our mission to help our startups expand and scale to their desired MENA and GCC markets, “said Ramez El-Serafy, Chief Executive Officer ( CEO) at Flat6Labs.
“As one of the first and largest Angel Investor Networks in Saudi Arabia, we are confident that this partnership with OQAL will provide exciting investment opportunities for Flat6Labs startups and the OQALs network of angel investors.”
Latifa BaNasr, CEO of OQAL, said the “engaged network” was a key pillar of the group ‘s strategy, highlighting its efforts to play a proactive role within the ecosystem with partners such as Flat6Labs.
“We hope that this partnership will result in more investment and more start-ups setting up and expanding to Saudi Arabia.”