Egyptian taxi-hailing startup Ousta has raised a US$1.25 million bridge investment round, which will be used to grow its team and accelerate its growth. Omar Salah, co-founder and chief executive officer (CEO) of Ousta, said the funding will be used to develop the team and increase Ousta’s availability across Egypt. “The Ousta application is built with solid and stable infrastructure with a great user experience interface. Noteworthy, the on-demand industry is no doubt the future of not just personal transportation, but will bring more great services to Egypt and soon the region,” she said. “This bridge finance will be used mainly to maintain its business, while discussing the potential of another significant round of capital increase.”

Source: The North Africa Journal August 30, 2016 08:37 UTC