In response to the dynamic shifts in work methodologies in recent years, Software as a Service (SaaS) solutions have emerged as pivotal tools for businesses, revolutionizing collaboration and communication. Leading the charge in supporting innovative startups, 216 Capital is thrilled to announce its €850,000 (USD 933,000) investment in Cynoia, a Tunisian startup founded by Nasreddine Riahi and Ayoub Rabeh in 2022. This strategic funding aims to propel Cynoia’s expansion into international markets.
Cynoia is dedicated to simplifying and optimizing collaboration within businesses. From chat and video conferencing to email, calendars, documents, and project management, Cynoia’s all-encompassing platform consolidates essential tools into a seamless user experience.
Dhekra Khelifi, Partner at 216 Capital, expresses enthusiasm for Cynoia’s unique position in the global market: “What is intriguing about Cynoia is its placement in the international landscape of high-performance collaboration tools. Their potential for global growth is reinforced by a formidable team, signaling a promising trajectory for success.”
read also Tunisia’s Konnect Plans North African Expansion with Visa Accelerator Selection
Since its inception, Cynoia has achieved remarkable milestones, serving over 3,000 users across 9 different countries, a testament to the effectiveness of its approach. The €850,000 funding round, led by 216 Capital and bolstered by contributions from United Gulf Financial Services and Bpifrance, marks a critical milestone for Cynoia’s journey.
Ayoub Rabeh, Co-founder of Cynoia, emphasizes the company’s commitment to innovation: “We are dedicated to introducing avant-garde features for an unparalleled user experience. This funding will not only drive innovation but also facilitate our geographical expansion through robust strategic partnerships.”
This funding round signifies a pivotal moment in Cynoia’s growth trajectory, positioning the company for even greater success on the global stage.
Charles Rapulu Udoh
Charles Rapulu Udoh is a Lagos-based lawyer, who has several years of experience working in Africa’s burgeoning tech startup industry. He has closed multi-million dollar deals bordering on venture capital, private equity, intellectual property (trademark, patent or design, etc.), mergers and acquisitions, in countries such as in the Delaware, New York, UK, Singapore, British Virgin Islands, South Africa, Nigeria etc. He’s also a corporate governance and cross-border data privacy and tax expert.
As an award-winning writer and researcher, he is passionate about telling the African startup story, and is one of the continent’s pioneers in this regard