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MENA Edition

Egypt’s Khazna Raises $16 Million For Saudia Expansion

Khazna, Egypt’s digital banking app has closed $16 million round to further fuel its growth by applying for a digital banking license in Egypt and advancing its expansion into the Saudi Arabian market. The pre-Series B round was from SANAD...
Startups

Egypt-based fintech  Khazna expands into Saudi Arabia

Egypt-based fintech Khazna, Egypt-based fintech Khazna has expanded its services into Saudi Arabia in partnership with Khwarizmi Ventures. Launched in 2020 by Omar Saleh, Ahmed Wagueeh, Fatimah El Shenawy, and Omar Salah, Khazna aims to serve underbanked Egyptians who have little access...
Startups

Fintech startup Khazna receives final approval from Egypt’s Central Bank to launch Khazna Card.

Khazna, an Egyptian financial super app that provides underserved consumers and microbusinesses with simple, technology-driven financial services, has announced that it has received final approval from the Central Bank of Egypt (CBE) to launch its Khazna Card in partnership...
Startups

Egyptian fintech Startup Khazna secures $38M in Series A Round for expansion.

Khazna, a Cairo-based financial Super App that offers easy to use, technology-driven financial services to Egypt’s underserved consumers and micro-businesses, announced today it has raised a Series A round of $38 million in equity and debt, with the equity...
Tech

Khazna and ADIB Egypt Receive Central Bank of Egypt Approval to Launch Khazna Card

Khazna, Egypt’s leading financial super app, has partnered with ADIB Egypt & Masria Digital Payments (MDP), to launch “Khazna Card”, the first of its kind Meeza prepaid card, linked to Khazna’s Super App to empower Egypt’s labor force by...
Startups

Speedinvest Launches Flagship MEA Fund Backed by Mubadala, QIA & EIB Global

European venture capital firm Speedinvest has launched its first flagship fund dedicated to the Middle East and Africa (MEA), backed by major institutional investors including Mubadala Investment Company, Qatar Investment Authority (QIA), and the European Investment Bank (EIB Global). The...
Startups

EIB Injects €40 Million into Speedinvest to Invest in Africa’s Tech Startups

EIB Global, the development arm of the European Investment Bank (EIB), has injected €40 Million into Africa-focused investment vehicle Speedinvest, in a move to strengthen EU–Africa ties, support digital transformation, and promote inclusive economic growth across the continent. Speedinvest will...
Startups

Egypt’s fintech MNT-Halan secures $400 million at valuation of $1 billion

Egyptian fintech and e-commerce ecosystem MNT-Halan has secured up to $400 million in equity and debt financing from local and global investors as it continues to serve underbanked and unbanked customers in the North African country. The round includes $260...
Startups

Egyptian venture capital fund Algebra completes first close of second fund at $100 million

Algebra Ventures, an Egyptian venture capital fund, has finalized a $100 million first close of its second Egypt-dedicated fund, exceeding the targeted $90 million fund - its biggest to date.  Algebra’s second fund is backed by established institutional investors. Existing...
Startups

Egypt’s three largest banks lead investment in major new Fintech fund – the launch of ‘Nclude by Global Ventures’

Egypt's largest national banks – Banque Misr, National Bank of Egypt, and Banque du Caire – and Global Ventures, a leading MEA-focused venture capital firm – announce the launch of Nclude by Global Ventures, following approval by the Central Bank...
Startups

Here are the 7 African startups selected for inaugural Last Mile Money Accelerator.

Seven African startups are among the eight selected to participate in the inaugural cohort of the  Last Mile Money Accelerator, a four-month program funded by the Bill and Melinda Gates Foundation and managed by IDEO. The Last Mile Money Accelerator's aim is...
Startups

Algebra Ventures’s $90M war chest is for fintech, logistics, healthtech & agritech startups in Egypt

Algebra Ventures, Egypt’s leading VC firm, early this month announced the launch of its $90M second fund, dedicated to investing in Egyptian startups with an allocation for the bigger MEA region. Algebra Ventures II is targeting a first closing...

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