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Deal Worth $ 2M Reached Between Eventtus and Algebra Ventures

TechInAfrica – Eventtus is an Egyptian company which ventures in managing, offering tickets and apps for events under one pool. The company was founded in 2012 by Mai Medhat and Nihal Fares who are both Egyptians. The company has been in a position to strike a deal worth $ 2 million with Algebra Ventures and 500 Startups to speed up its expansions in the Middle East and help in the launching of new products in the market. The company’s primary aim is to maximize the outcome of all stakeholders.

The event app makes it possible for the organizers to interact with the customers before the main event. The app, therefore, ensures that the customer is served to his best satisfaction.  This will ensure that there is a right update on the events schedule and offer the necessary updates through social media feed.

The deal comprises of new features that will ensure the group in charge be more efficient when it comes to exhibitions and diversifying the revenue collection for organizers.  Eventtus is in the processes of launching its new Al module that will help the participant in identifying the right people to connect with at different events depending on the machine learning algorithm.

Algebra ventures managing director talked of their primary objective of maximizing on technology which is now taking center stage globally. Citing that that was one of the reasons why they invested in Eventtus. The number of customers that Eventtus has been able to have led to the growth of regions events leading to an increase in revenue collection helped Algebra Ventures in making a move.

Hassan Haider a 500 Startups partner lauded the move and stated that they are proud of being part of the change in how events are managed. Eventtus Chief Executive Officer assured the partners of their commitment to take charge of event market globally.

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