Egyptian startups’ Saudi expansion trend is reversing, VC says

RIYADH: The rush by Egyptian startups to expand into Saudi Arabia has largely reversed after some companies entered the Kingdom too early, burned through capital and underestimated the differences between the two markets, according to F6 Ventures co-founder and General Partner Dina El-Shenoufy. The trend peaked in 2022 and 2023, when economic uncertainty and currency devaluation in Egypt drove founders to seek revenue diversification, El-Shenoufy told Arab News. Investors also encouraged portfo

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