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Press Release Details

Thursday, May 26, 2022

Orange Ventures flagship its competition in supporting entrepreneurs in Egypt with funding of $200,000

Orange Egypt Proudly Announces the Egyptian Startup Winner “Amanleek” in the Fintech Startup Seed Challenge 2022

Orange Egypt is proud to announce that the Egyptian startup “AmanLeek” won the Fintech Startup Seed Challenge 2022, which supports promising entrepreneurs with creative ideas in Egypt. This seed challenge was jointly launched by Orange Egypt and Orange Ventures, the Venture Capital of Orange Group.

Amanleek is a digital platform that strives to expand access to insurance through a simple, seamless customer experience by introducing innovative digital solutions and customized insurance plans. The startup was adjudicated the winner of the Seed Challenge after a highly competitive selection process witnessing hundreds of applications, and rigorous evaluations overseen by a jury of experts. The winning company aspires to launch a new era in Egypt's insurance industry, in which products can be delivered hassle-free to every home in Egypt while maintaining complete transparency, thereby boosting the role of the industry within the Egyptian economy.

The Seed Challenge’s primary objective is to support and amplify the work of seed ventures in their first round of fundraising and it mainly focuses on startups with less than EUR 1 million in funding operations across a variety of industries, including IT, digital projects, cybersecurity, fintech, gaming, educational technology, e-commerce, and others.

The winner of the Seed Challenge of 2022, “AmanLeek” will receive $200,000 in funding, as part of Orange Ventures' commitment to empowering innovative entrepreneurs at critical growth stages of their business.

On this occasion, Noel Chateau, Orange Egypt's Chief Transformation & Operational Efficiency Officer, expressed his delight that the Fintech Seed Challenge's 2022 season had reached its decisive final stage by announcing AmanLeek's victory, and shared his best wishes with all the challenge participants, and aimed for the winning company's success to inspire other innovators to believe in themselves and pursue their goals.

"Egypt is experiencing a definite rise in the innovation and entrepreneurship sector and is now the second country in Africa for VCs investments. We see a lot of opportunities in partnering with startups like AmanLeek to bring the best of innovation to our customers. ", he added.

"As a result, we aim that the Fintech Startup Seed Challenge along the side of many other initiatives that we proudly provide at Orange to have a great significance in filling in the gaps and to continue to play a key role in introducing these innovative businesses to the Egyptian market and beyond the technical business community", he continued.

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About Orange

Orange is one of the world’s leading telecommunications operators with revenues of 43.5 billion euros in 2022 and 136,000 employees worldwide at 31 March 2023, including 74,000 employees in France. The Group has a total customer base of 288 million customers worldwide at 31 March 2023, including 243 million mobile customers and 24 million fixed broadband customers. The Group is present in 26 countries. Orange is also a leading provider of global IT and telecommunication services to multinational companies under the brand Orange Business. In February 2023, the Group presented its strategic plan "Lead the Future", built on a new business model and guided by responsibility and efficiency. "Lead the Future" capitalizes on network excellence to reinforce Orange's leadership in service quality.

Orange and any other Orange product or service names included in this material are trademarks of Orange or Orange Brand Services Limited.