The funding package consists of $12.5 million in Series A equity investment and an additional $24.6 million in debt financing from local financial institutions.

The new capital will support the company’s efforts to expand its consumer lending business, particularly among women and underserved populations that have traditionally had limited access to formal financial services.

Founded in 2021 by Amr Sultan and Tarek Elsheikh, Blnk operates a digital lending platform that allows shoppers to access financing directly at the point of purchase.

Through its technology, merchants can onboard customers and receive instant credit assessments, enabling consumers to spread payments over time when purchasing products and services.

The equity round was led by venture capital firm Algebra Ventures. Other investors participating in the transaction included the SANAD Fund for MSME, Endeavor Catalyst, and Emirates International Investment Company (EIIC), an Abu Dhabi-based investment firm that previously backed the startup during its early stages.

Alongside the equity investment, Blnk secured debt facilities from a group of Egyptian banks and non-bank financial institutions.

Among the lenders were National Bank of Egypt, Suez Canal Bank, Bank Albaraka, Corplease, Globalcorp and BM Lease.

The fundraising comes as Egypt’s fintech sector continues to grow amid increasing demand for alternative lending products.

While traditional banking services remain out of reach for many consumers, fintech companies are increasingly using digital technologies and alternative data to extend credit to individuals who may not qualify through conventional channels.

Blnk says it has experienced rapid growth since its previous funding round in 2022. The company has onboarded more than one million customers and built a loan portfolio exceeding EGP1 billion (approximately $19.25 million).

Its financing services are available through a network of more than 3,000 merchants spanning sectors such as electronics, household appliances, furniture and automotive services.

According to the company, customers can receive credit approvals within minutes through its AI-powered underwriting system, which evaluates borrowers using proprietary algorithms and data-driven risk assessment tools rather than relying solely on traditional credit indicators.

“Our investors’ continued confidence in our vision reflects the progress we have made in building a platform that expands access to finance,” said Amr Sultan, co-founder and chief executive officer of Blnk.

“This funding will help us improve profitability, expand our customer base, introduce new products and continue our mission of making financial services accessible to millions of consumers in Egypt and beyond.”

Karim Hussein, managing partner at Algebra Ventures, said the investment firm sees significant potential in Blnk’s business model and its ability to serve segments that are often overlooked by traditional financial institutions.

“Blnk has demonstrated a strong ability to reach unbanked and underbanked consumers while maintaining disciplined credit practices,” Hussein said.

“We believe the company is well positioned to become a leading player in Egypt’s consumer finance market as it expands into new sectors and growth opportunities.”

The latest investment is expected to support Blnk’s plans to diversify its product offering, strengthen its technology infrastructure and widen access to flexible financing solutions for Egyptian consumers.