'Nomakkin' Launches First Egyptian Platform for Verification and Risk Management Services

The "Nomakkin" platform officially launched its services as the first Egyptian platform specializing in information verification and risk management. It seeks to empower individuals and companies to access reliable data before making major personal and commercial decisions.

The platform offers a spectrum of services including background checks, document verification, job candidate screening, and commercial due diligence, in addition to researching potential risks and adverse information associated with any party prior to engaging with them.

The company is led by three founders: Ibrahim Shtewi as Business Director, Malek Abdelrahman as Business Development Director, and Mahmoud Anan, an Egyptian lawyer and founder of Anan Law Firm in Cairo, as Operations Director. The company is adopting a self-funding approach in its initial stage while exploring opportunities for a Series A funding round.

"Nomakkin" aims to expand into the Saudi market through a specialized partner network, and is working on developing application programming interfaces (APIs) that allow integration with corporate systems, targeting fintech, human resources, digital platforms, and financial institutions seeking to enhance the reliability of their operational decisions.

What do these terms mean?

Background Check: A systematic process to verify the accuracy of information provided by individuals or companies, such as criminal, educational, and professional records, and is widely used in hiring decisions and commercial partnerships.

Due Diligence: Verification and audit procedures conducted by companies prior to completing a transaction or commercial partnership, to ensure the integrity of the involved parties and identify potential risks.

Series A: The initial stage of institutional funding for startups after proving their business model, typically used to expand operations, develop the product, and enter new markets.