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.
Johnvents Group, a prominent Nigerian agribusiness and manufacturing conglomerate, has received a $40.5 million investment from British International Investment (BII), the UK’s development finance institution and impact investor.
Sahel Capital has provided a $400,000 working capital loan to MM LEKKER through its Social Enterprise Fund for Agriculture in Africa (SEFAA), aiming to strengthen agricultural trade and smallholder farmer support in Benin.
Twiga Foods, a Kenyan agritech startup that connects farmers to food vendors, has secured an undisclosed amount of funding from a group of investors, including Creadev and Juven.
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