New Investments
Egyptian Fintech Startup Khazna Secures $16 Million Pre-Series B to Drive Growth
Egyptian fintech company Khazna has successfully raised $16 million in a pre-Series B funding round to strengthen its presence in Egypt and expand operations into Saudi Arabia.
Founded in 2020 by Omar Saleh, Ahmed Wagueeh, and Fatimah El Shenawy, Khazna initially launched as an earned wage access platform.
Over time, it has evolved into a multi-service fintech provider, catering to a significant portion of Egypt’s smartphone users who lack access to formal financial services.
The company currently offers general-purpose credit, buy now pay later (BNPL) options, and bill payment services.
This latest funding round follows Khazna’s $38 million Series A investment in 2022.
Investors in the pre-Series B round include a mix of new and existing backers such as SANAD Fund for MSME, anb Seed Fund, Aljazira Capital, Khwarizmi Ventures, Nclude, ICU Ventures, Quona Capital, Speedinvest, and Disruptech Ventures.
With fresh capital secured, Khazna aims to accelerate its growth by applying for a digital banking license in Egypt and establishing strategic partnerships to enter the Saudi market.
CEO Omar Saleh described the funding as a major milestone for the company, emphasizing its role in expanding financial inclusion across the MENA region.
“This achievement not only strengthens our core operations but also enables us to fast-track our mission of financial empowerment. Our entry into Saudi Arabia marks the start of an exciting new chapter, and we remain dedicated to delivering a seamless digital experience to users across the region,” he stated.
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