
Egyptian Fintech Connect Money Secures $8 Million Seed Funding to Fuel North African Expansion
Connect Money, an Egyptian fintech company specializing in Banking-as-a-Service (BaaS), has successfully closed its seed funding round at $8 million.
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Pan-African investment firm Janngo Capital has injected fresh capital into Jobzyn, a Moroccan recruitment-technology startup seeking to reshape how companies and candidates connect across Africa and the MENA region.
Jobzyn aims to ease the workload for recruiters swamped by large numbers of unfit job applications.
The platform deploys artificial intelligence tools that steer applicants toward relevant vacancies, surface the best-matched profiles for hiring teams, and evaluate candidates’ soft skills before interviews take place.
For jobseekers, Jobzyn offers more transparency than typical job boards: applicants can access information about a prospective employer’s culture, leadership vision, workplace environment (through office photos), employee video testimonials, and salary ranges.
These features are designed to help ensure candidates’ expectations align more closely with what employers offer.
Janngo Capital’s backing represents a pre-seed funding round for Jobzyn, although the exact amount invested has not been publicly disclosed.
The goal is to scale Jobzyn’s AI-powered recruitment platform and extend its reach across Africa and the Middle East & North Africa.
A particular focus of this investment is job creation, especially for women and young people, who often face higher barriers to formal employment.
Africa currently produces around 3 million new jobs annually, far short of the 20-30 million needed each year by 2050 to match population growth, a gap that efforts like Jobzyn’s aim to close.
Simo Zizi, co-founder and CEO of Jobzyn, emphasized that “radical transparency and the effective use of technology can profoundly transform how talent and companies connect.”
He noted that Janngo’s support will help accelerate Jobzyn’s mission to make the job market more accessible, fair, and efficient across the continent.
Fatoumata Bâ, founder and executive chair of Janngo Capital, described Jobzyn as a platform combining transparency, inclusion, and technological innovation to deliver greater equity in employment access across Africa.She pointed to the urgent need for more jobs due to Africa’s demographic trends.
Connect Money, an Egyptian fintech company specializing in Banking-as-a-Service (BaaS), has successfully closed its seed funding round at $8 million.
The European Investment Bank (EIB Global) has pledged a $75 million investment in Helios Fund V, a private equity fund managed by Helios Investment Partners.
Founders Factory Factory, a renowned venture capital company, has secured $114 million in funding to support and accelerate the growth of tech startups across Africa.