Egypt
IFC Invests in New Private Equity Fund Targeting Financial Inclusion Startups in Africa and Asia
IFC announced an investment in a new fund by Apis Partners LLP, a private equity firm, to help innovative mid-cap financial service providers expand and boost financial inclusion among individuals and micro, small, and medium-sized enterprises across Africa, South Asia,
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Egyptian VC Firm DisrupTech Ventures Bags US$5 Million Investment From Proparco
DisrupTech Ventures, an Egypt-based venture capital firm focused on fintech, has received a US$5 million investment from Proparco, a subsidiary of the Agence Française de Développement (AFD) devoted to private sector funding. The early-stage venture capital fund aims to provide
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Flutterwave Secures Payments Licenses in Egypt for North Africa Expansion
Nigerian payments company Flutterwave announced that it has received its Payment Services Provider and Payments Facilitator licenses in Egypt. This will enable Flutterwave to collect payments on behalf of its customers and settle payments locally and globally. The company will
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Egyptian Fintech MNT-Halan Gets Unicorn Badge With US$400 Million Raise
Egyptian fintech MNT-Halan announced that it has raised up to US$400 million in equity and debt financing, pushing its valuation to over US$1 billion. The funds came from Chimera Abu Dhabi which has invested more than US$200 million in equity
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Egypt’s New Financial Inclusion Strategy
The Central Bank of Egypt (CBE) has launched its Financial Inclusion Strategy 2022-2025, a national development plan focusing on expanding access to financial services, developing financial literacy and facilitating the introduction of innovative financial products that meet consumers as well
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Vodacom, Alipay to Launch Financial Services App VodaPay in Egypt
South Africa’s Vodacom Group is planning to launch its Alipay-enabled financial services app VodaPay in Egypt, according to a Bloomberg interview with Vodacom’s CEO Shameel Joosub. The launch comes after the mobile communication company obtains the necessary approvals to acquire
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Blnk Raises US$32M Led by Abu Dhabi’s EIIC and Sawari Ventures
Egyptian consumer credit platform Blnk has raised US$23.7 million in equity and debt funding, and US$8.3 million in securitised bond issuance underwritten by National Bank of Egypt and Banque du Caire. The US$12.5 million equity round was led by Abu
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Egypt’s Paymob Raises US$50 Million in Series B Fundraise
Paymob, Egypt’s omni-channel merchant financial services platform, announced it has raised US$50 million in a Series B funding round led by Kora Capital, PayPal Ventures, and Clay Point. This Series B funding round brings Paymob’s total funding to over US$68.5
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Egypt Largest Fintech Round? Lucky Announces $25 Million Fund Raise
Lucky, Egypt’s leading app for credit products, offers and cashback rewards, announces its completion of a $25 million fund raise. The funding round, which claims to be Egypt’s largest Fintech Series A round so far, was led by Nclude by
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The 3 Largest National Egyptian Banks Launch $85 million Fintech MEA Fund
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
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