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.