Lebanese EdTech Startup Synkers Raises Seed Investment from Phoenician Funds

Synkers, a Lebanese-born peer-to-peer private tutoring app, announced the closing of a seed investment round, for an undisclosed amount, from Phoenician Funds, the first round after the startup's graduation from Speed BDD’s acceleration program in July 2017. Through its peer-to-peer service, Synkers aims to build the largest community of knowledge exchange to enhance the academic performance of future generations. By enabling a seamless cross-border transfer of knowledge and making education accessible to all, Synkers intends to change the way education is being done and build a state-of-the-art adaptive learning technology. 

Founded by three Lebanese women, Zeina Sultani, Sibylle and Audrey Nakad, Synkers was the only Lebanese startup - from a list comprising more than 1,000 worldwide applicants - selected by Dubai Future Accelerators to work closely with the government authorities to shape the future of education. Following one year of operation in Lebanon working hand in hand with academic institutions, Synkers started operating in UAE a couple of months ago and accounts till date for over 15,000 students and 780 vetted tutors.

The founders' diverse background - Sultani comes from a business development and marketing background, while Sybille and Audrey Nakad who both come from a very rigorous financial background - are a big part of the company's recipe given their dedication to innovation and quality, the two main keys for the success of such an ambitious project focused on spreading the culture of excellency in the educational field.

Phoenician Funds, founded in 2015 in Beirut, actively supports founders to co-shape successful ventures in the early stages of investment, and create value across the investment life-cycle. Phoenician Funds provides strategic guidance, market access and insights, and linkages to proprietary networks. The investment provides Synkers with an opportunity to leverage quicker the fastest growing segment of the education (private tutoring) and scale its seamless technology across the MENA region in the coming 5 years.