Balad, a rising star in the Egyptian fintech scene, has closed a seven-figure pre-seed funding round.
The funding round was led by Acasia Ventures, with participation from other investors such as Launch Africa Ventures, Future Africa, V&R, MAGIC Fund, First Circle Capital, Sunny Side, and several family offices. Founded in 2022, Balad aims to revolutionize financial inclusion in Egypt by leveraging innovative technology solutions. With a strong focus on the unbanked and underbanked population, Balad aims to empower individuals and small businesses with access to financial services that were previously out of reach.Through this investment, Balad is now equipped with additional resources to expand its operations, strengthen its technology infrastructure, and scale its services to reach more individuals and businesses in need.
Lagos-based health technology startup Platos Health has secured $1.4 million in a pre-seed funding round to grow its artificial intelligence-powered health platform, Platos Monitor.
Egyptian startup Swypex has unveiled its one-stop financial management platform designed to streamline business operations.
Mamamoni, a Nigerian fintech social enterprise dedicated to empowering low-income women, has received a €250,000 grant from the Challenge For Youth Employment (CFYE).
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