Car App Ousta Wins $1.25M for Its Funding Round

Ousta, the car ride app, has announced its first funding round worth $1.25 million, 5 months following its debut in the Egyptian market.

This funding round was sponsored by investors from Egypt and Emirates, as well as Axia Capital’s venture capital fund.

A number of reasons have played in the success of the nascent startup, including fixed price rates and an updated meter along the journey.

In a statement to Entrepreneur Alarabiya, Nancy Farag said that the funding is a bridge to expanding and keeping a steady growth rate which now stands at 30% per week.