The Cairo Angels Syndicate Fund (CASF), a micro venture capital fund based in Cairo that invests in early-stage startups in the Middle East and Africa, is delighted to announce its investment in Finclusion Group, a fintech startup.
Finclusion Group is an African-focused fintech platform building out a full neo bank offering for its users. Finclusion Group now serves clients in South Africa, Eswatini & Namibia in Southern Africa, and Kenya & Tanzania in East Africa, providing earned-wage access, BNPL, and direct credit.
The Finclusion Group is dedicated to developing products that improve the quality of life of its clients by making financial tools readily available across the African continent. By leveraging their risk, credit, and technology expertise, Finclusion Group aims to drive financial wellness and financial inclusion in Africa and to build the first truly pan-African neo bank.
“Finclusion Group is exceptionally pleased to have the Cairo Angels Syndicate Fund join its shareholder base. With CASF, the Group continues building out its shareholder base with aligned investors – and has secured a strong partner for potential future geographic expansion. Being the CASF’s second investment recipient outside of Egypt, in our view, speaks volumes as to the progress we have made recently,” stated Timothy Nuy, Co-Founder and Co-CEO, Finclusion Group. “We look forward to working with the CASF to continue building Africa’s neobank,” he concluded.
“Our mission is to invest and support incredible founders building digital platforms to solve essential problems. That is exactly why we decided to invest in Finclusion Group, which is delivering compelling solutions to underserved consumers who have historically had little or no access to credit. This represents the fund’s second investment in Africa outside of Egypt and our third Fintech investment so far,” said Aly El Shalakany, CEO of the Cairo Angels Syndicate Fund.