bu Dhabi-based home services platform Rizek has held a conference to announce its expansion in Egypt.
Abdullah Abu Sheikh, CEO and founder of Rizek, said the company started about a year ago in the UAE with the aim of providing various service suppliers a platform that connects them with the end users.
“We saw that Egypt is the largest market in the Middle East and Africa, and has a strong opportunity for the spread of our services. Therefore, we decided to go to the Egyptian market,” said Abu Sheikh.
Manar Al-Amin, CEO of Rizek Egypt, said the country has the largest market in the region and Rizek is achieving rapid economic growth rates, which makes the opportunity suitable for offering our services in Egypt.
“We will focus on two main sectors; first is the health sector, such as lab tests where a user can request home visits, second is the cosmetics sector,” Al-Amin added. “By the end of this year, more services will be available.”
Rizek has raised about $13.5m through two financing rounds recently, the last of which was at a value of $10m with the aim of expanding in the Egyptian market. The company hopes to turn Egypt into its hub for expansion in African markets.