Egypt-based cybersecurity startup Buguard has raised USD 500k in a seed round led by MENA venture capital firm A15 and with the participation of a number of unnamed angel investors, it said in a press release (pdf). This marks the company’s first external funding round since its launch in 2021.

Buguard? Founded in 2021 by CTO Youssef Mohamed (LinkedIn), the cybersecurity firm’s customers include local businesses Paymob, Fawry, EFG Hermes, and Thndr, among others.

Buguard plans to expand in the GCC: The firm plans to use the proceeds to grow its team, “focusing on product, sales, and channel partnerships,” the release reads. “We are already globally facing with clients across the world, but our immediate strategy is to grow even stronger in the GCC,” Mohamed said. The company is planning to expand into Saudi Arabia this year, he added.

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