The Beirut start-up seeking Gulf opportunities despite Lebanon’s economic crisis

  • Date: 07-Oct-2020
  • Source: Arabian Business
  • Sector:Technology
  • Country:Lebanon
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The Beirut start-up seeking Gulf opportunities despite Lebanon’s economic crisis

Lebanese start-ups are seeing the challenges posed by the combined economic and coronavirus crises as an opportunity to inject more money into new projects and expand their presence regionally.

Based in Beirut Digital District (BDD), an innovation cluster similar to the Silicon Valley concept in San Francisco, Synkers, an online tutoring platform with branches in Dubai and Abu Dhabi, has raised $1.8 million in pre-series A funding.

Tutor Comp is also planning further expansion in the GCC region to provide services in the education sector

Among the investors are Saudi Business Angels, an investment fund and incubator of 500 start-ups, the Lebanese Phoenician Funds and ISME Kafalat, Mulcan Investment, the Lebanese business angel community Seeders and the international funds Crescent Capital and Dubai Angel Investors.

The funds, negotiated before the Lebanese crisis, come from