Proparco backs DisrupTech Ventures with $5 million to invest in Egypt’s fintech space
Proparco, a leading development finance institution, has invested 45 million in Disruptech Ventures to accelerate the growth of Egypt’s fintech sector.
DisrupTech Ventures is an early-stage venture capital fund aiming to provide seed funding to up to 28 startups. The VC fund raised $36 million from several investors, including Development Finance Institutions, Funds-of-funds and Family offices. The investment is projected to be an important financing source for Egyptian tech companies, which often struggle to raise capital to bring their innovations to market.
Launched two years ago, DisrupTech was established to support early-stage Fintech and Fintech-enabled digital services startups focusing on Egypt. The firm adopts a hands-on approach from the beginning, partnering with talented entrepreneurs to transform their vision into reality.
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