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.
Nigerian agritech startup Zebra CropBank has secured a significant investment to boost its mission of transforming the lives of smallholder farmers across Africa.
Flat6Labs, a leading venture capital firm and startup accelerator in the MENA region, is set to receive a proposed equity investment of up to $6 million in its newly launched fund from the International Finance Corporation (IFC).
Egyptian ad-tech startup dKilo has raised $3.2 million in seed funding to develop new methods for brands to reach consumers and expand into the Saudi Arabian market.
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