- EmpowerAfrica
- , 6 May 2020
Did you know that over 525 million people used the internet in Africa in 2019? If current growth trends continue, almost 75% of Africans are expected to come online by 2030.
Egypt's Balad secures seven-figure Pre-seed funding to drive financial inclusion
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.
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