New joint investment concept “Shekra” is drawn from the Arabic phrase “sherik fekra” in Arabic, which means “share an idea.” The platform was launched in Cairo last November by seven founders who come from backgrounds in technology, aviation, investment and banking, who have pooled their resources to support Egyptian startups.
The platform works by asking its network of investors to offer small amounts of capital in order to fund a startup or a specific project, thus mitigating investment risk.
Unlike other crowdfunding platforms like Yomken in Egypt, or crowdsourced investment platforms like Zoomaal, which ask the public to fund projects, Shekra relies on a closed network of investors.
While many are still skeptical about investing in startups in general, Shekra hopes to build trust in the idea by leading with trustworthy investors.
The Crowdfunding Trend in the Arab Region
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