Khazna offers salary advances, payroll-backed credit, pension lending, unsecured loans to gig workers, bill payments, buy-now-pay-later, insurance and a rent-to-own product aimed at low- and middle-income workers. The company focused on payroll and pension-backed lending as its core product, which management says drove it to break even last month. Khazna has grown to over 500,000 users, with about 100,000 receiving their payroll through the platform, enabling embedded lending and insurance. Because it cannot accept customer deposits today, Khazna funds lending with wholesale debt in USD and EGP, which raises its cost of funds. The startup is working to secure a deposit-taking digital banking license in Egypt (targeting mid-2026) to lower funding costs and capture deposits. It also plans to expand into Saudi Arabia and to target 40–50% of business from that market within four years, leveraging large Egypt–Saudi remittance flows. Khazna is a Cairo-based financial super app targeting middle- and lower-income users with a suite of banking and non-financial services. Founded in 2019 by Omar Saleh, Ahmed Wagueeh, Fatma El Shenawy and Omar Salah, its entry product was an earned wage access service (Khazna HR) launched in 2020 that lets partner employers offer cash advances. The company has since added buy now, pay later, bill payments and a prepaid debit card; its BNPL is available in about 1,000 merchant stores. Khazna reports roughly 150,000 users across all products and employs a team of 170, with leadership drawn from WorldRemit, Uber, Jumia and Match Group. The startup is aligned with the Central Bank of Egypt’s financial inclusion and less-cash initiatives and plans to leverage CBE infrastructure such as the instant payment network. Khazna plans to launch additional products before year-end and aims to reach 1 million users by the end of 2022. Financially, the company has raised $38M in this Series A (debt and equity) and $47M in total since inception. Khazna provides convenient, effective and secure smartphone-based financial services. The company was founded in April last year by Omar Saleh, Ahmed Wagueeh, Fatimah El Shenawy, and Omar Salah. Its LinkedIn states the leadership team has over 50 years of combined global experience in finance, corporate strategy and technology. Last month Khazna announced an undisclosed seed investment led by Algebra Ventures and joined by Accion Venture Lab. Ventureburn/Menabytes report that Disruptech, a $25 million fintech fund, also invested a six-figure dollar amount in Khazna; Disruptech did not disclose exact investment sizes.

Total raised

$54M

Funding rounds

4

Latest round

Series B

Latest activity

Feb 2025