Cairo based platform, Minly, has raised $3.6 million in an “oversubscribed” seed round co-led by 4DX Ventures, B&Y Venture Partners, and Global Ventures it announced in a statement today. The round also featured other investors including strategic angels like Scooter Braun, Anthony Saleh, Jeffrey Katzenberg, Jason Finger, Arieh Mimran, and Tamim Jabr.
Founded in 2020 by Mohammed El-Shinnawy, Tarek Hosny, Bassel El-Toukhy, Tarek ElGanainy, and Ahmed Abbas, Minly lets fans across the MENA region to buy personalised video messages and shoutouts from leading celebrities.
With the new funds, the startup wants to expand its services and products to become a full-stack passion economy platform, for content creators to deliver meaningful experiences over various mediums for their fans.
El-Shinnawy described the vision, “with this new funding and the incredible group of partners that joined us, we are ready to scale across the region and introduce an exciting suite of new products. The creator economy is in its infancy and growing at lightning speed. We have the opportunity to build this category’s first unicorn in MENA.”
Peter Orth, Co-Founder and General Partner at 4DX Ventures–who is joining the startup’s board–said “Minly is fundamentally changing the relationship between celebrities and fans in the MENA region, and has an enormous opportunity for growth.”
“The team has both the ambition and the expertise to build a full-stack digital interaction platform that could change the way digital content is created and consumed in the region. We’re thrilled to partner with Minly and to help them reach their full potential,” he said.