
Egyptian Fintech Startup Zeal Secures $4 Million for Global Expansion
Egyptian fintech Zeal has secured a $4 million investment, led by Raed Ventures and Cur8 Capital.
The European Investment Bank (EIB) has announced a €15 million investment in the newly established I&P Afrique Entrepreneurs 3 (IPAE 3) fund, managed by Investisseurs & Partenaires.
The fund is designed to support high-potential local businesses in various sectors, including agriculture, health, energy, water, industry, and services.
The EIB joins the West African Development Bank (BOAD) and Proparco as one of the first investors in IPAE 3, with the goal of attracting additional public and private sector contributors to expand the fund’s impact.
EIB Vice-President Ambroise Fayolle emphasized the significance of this investment, particularly in West Africa and Madagascar, where access to financial support for startups remains limited.
“This initiative aims to provide financing for startups and assist in their growth, fostering responsible entrepreneurship and empowering women entrepreneurs. By doing so, we are contributing to job creation and the development of future business leaders,” Fayolle stated.S
ébastien Boyé, Co-CEO of Investisseurs & Partenaires, expressed pride in the ongoing collaboration with the EIB, a partnership that has spanned nearly two decades.
“The EIB’s early commitment to IPAE 3 is instrumental in the success of this fundraising round. It underscores confidence in our approach and expertise. The fund aims to provide financial support to responsible and innovative businesses that tackle Africa’s most pressing challenges while promoting economic inclusion, particularly for women,” Boyé noted.
With this latest investment, IPAE 3 is set to drive economic development across Africa by funding enterprises that contribute to sustainable growth and social impact.
“We are delighted to partner with ISA to support the development of solar energy in Africa,” said Alain Ebobissé, CEO of Africa50. “This partnership will help to accelerate the deployment of solar energy in Africa and improve the lives of millions of Africans,” he added.
Egyptian fintech Zeal has secured a $4 million investment, led by Raed Ventures and Cur8 Capital.
Zone, a leading African payment infrastructure company, has secured $8.5 million in a seed funding round exceeding expectations.
Lapaire, the African eyewear startup providing stylish and affordable glasses to the continent, is scaling up its vision with a fresh $3 million investment.
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