Wasel in talks with Wamda Capital over USD 200k

Mass transit startup Wasel is in talks with the UAE’s Wamda Capital for a USD 200k funding round to finance its expansion plans in Egypt’s southern governorates, founder Ahmed Elrawy said. The company, which had scored USD 26,000 in funding from the British embassy, is already operating in eight of Egypt’s southern governorates. It allows customers to book affordable bus rides online from and to various locations across the country, and is a direct competitor to the other successful mass transit app Swvl, which set the record for Series A funding in Egypt at USD 8 mn.