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.
Mirova, an affiliate of Natixis Investment Managers, has announced financial support for KOKO, a company offering clean cooking solutions in Africa.
Founded in 2020, Chari has developed an advanced e-commerce platform that aims to bridge the gap between traditional brick-and-mortar stores and online shopping experiences.
Kenyan clean cooking appliance manufacturer BURN has announced a $15 million investment deal with the European Investment Bank (EIB) to support the distribution of its ECOA Electric Induction Cooker across East Africa.
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