Led · Series A · Jun 2026

Blnk offers point-of-sale consumer financing through a merchant network of more than 3,000 stores across categories such as electronics, home appliances, automotive services, and furniture, enabling consumers to access loans with minimal documentation in as little as three minutes and repayment terms of 6 to 36 months. The company uses proprietary algorithms and machine learning models to perform localized, real-time credit risk assessments and price loans based on predicted default probabilities. Since its seed round in November 2022, Blnk has onboarded over one million customers, grown a loan portfolio exceeding EGP 1 billion, and reported reaching profitability in 2025 driven by a 173% year-on-year revenue increase. Around 75% of its users were previously unbanked or underbanked, and women make up more than 35% of its customer base. Blnk plans to expand its product suite, enhance its technology, explore geographic expansion, and launch a credit card program that allows customers to use credit limits outside its merchant network. The company leverages both equity and local debt capital to scale operations and broaden access to consumer finance in Egypt.

Participated · Equity · May 2025

Sylndr operates an integrated used-car marketplace and mobility platform in Egypt that combines direct buying and resale, digital auto loans, car servicing, and a dealer-to-consumer marketplace under a single mobile app. Its core products include Sylndr Swift (digital financing approvals in under 10 minutes, without lending on its own balance sheet), Sylndr Plus (inspections, maintenance, servicing), and Al-Ajans (third-party dealer listings with inspection and ownership-transfer support). The company has expanded from buying and refurbishing cars for resale to a multi-vertical business serving consumers and more than 1,000 dealers, with revenue now evenly split between direct-to-consumer sales and B2B dealer transactions. Sylndr declined to share absolute revenue or transaction volume, but said sales have increased nearly tenfold since 2022, revenue in Egyptian pounds rose 22x and by fivefold when adjusted to dollars; average sale price on the platform is $20,000–$25,000. Management expects financing and servicing verticals to contribute up to 60% of gross profit within two years and plans to deepen its presence in Egypt rather than expand abroad. Sylndr is a Cairo-based startup that acquires cars from individuals, refurbishes them and resells them with a seven-day money-back guarantee, warranty and plans for flexible financing. The company was founded in November 2021 by Omar El Defrawy and Amr Mazen and is currently pre-revenue and yet to launch publicly. Sylndr plans to open its seller listings first and begin selling to buyers in Q4 2022 or Q1 2023, with refurbishment occurring between those events. Management says it will pursue revenue from retail sales, auction houses, dealerships, B2B sales and potential ancillary streams such as interest from financing, insurance and roadside-assistance fees. The team is over 40 people and the founders plan to more than double headcount by year-end. Proceeds from the fundraise will be used to scale operations, technology infrastructure, grow inventory and build retail and non-retail customer channels.

Led · Seed · Mar 2025

Enza is a Dubai-based fintech founded in 2022 by ex-Network International executives Hany Fekry and Hamish Houston that builds payments infrastructure for banks and fintechs across Africa. Its platform serves both issuing and acceptance, supporting cards, wallets, real-time payments, mobile money, QR, BNPL, and contactless options and integrating with local schemes (Verve, AfriGo, Meeza), global networks (Visa, Mastercard), and rails (NIBSS, PayShap, InstaPay). The startup is initially targeting Egypt, Nigeria, and South Africa and has live bank partnerships across six African markets (Rwanda, Nigeria, Ghana, Egypt, Uganda, and South Africa). Enza charges banks on a per-transaction (“per-click”) basis and has secured over 10 million monthly contracted transactions, with volumes growing 35–40% month-over-month and expected to double in two years. The company launched in January 2023, is targeting 30–40 high-quality bank relationships, and plans to use new capital to expand the team and roll out new products for its banking clients. Enza leverages the founders’ decades of payments experience at Network International and DPO Group to secure contracts and rapidly scale adoption.

Led · Series A · Jul 2024

Cartona is an asset-light B2B e-commerce marketplace that connects FMCG suppliers and wholesalers with retailers, offering technology, fulfillment, and embedded finance to improve supply-chain efficiency. The platform serves FMCG and a growing HORECA vertical while partnering with local suppliers rather than displacing them. Cartona reported annualized GMV of about EGP 10 billion (~$210M), up from EGP 2.3 billion (~$120M) in 2022, and now supports more than 180,000 retailers, 4,500 suppliers across 17 Egyptian cities, and over 40,000 SKUs. HORECA currently represents ~7% of GMV but yields double the blended take rates and average order value versus FMCG; the company expects HORECA to reach 15% of GMV by year-end. Cartona is very close to reaching full EBITDA profitability and has improved unit economics while shifting most merchant credit to local-currency financing. Embedded finance now constitutes more than 20% of Cartona's GMV (up from 2–3% in 2022), supporting inventory financing and financial inclusion for small merchants. The company plans to deepen operations in Egypt, expand the HORECA vertical and other product lines, and may pursue regional expansion, including Saudi Arabia. Cartona operates an asset-light B2B e-commerce marketplace that lets buyers order inventory from a network of curated sellers via an app with promotion tools and a market-insights dashboard. The company integrates technical connections with large manufacturers and warehouses and embeds BNPL into the order flow, allowing repayment with each product shipment. Cartona currently lends from its balance sheet but expects to secure credit lines and venture debt from partners by January next year. Management says the business is pursuing sustainable growth and positive unit economics in every city as it scales toward profitability. Operational metrics disclosed include 60,000+ merchants, over 1 million transactions, an annualized gross merchandise value of EGP 2.3 billion (~$120M), 1,500+ distributors and wholesalers, and relationships with roughly 200 FMCG companies. The startup launched in 2020 and has expanded from three cities to 11, with plans to cover all of Egypt's governorates and explore new verticals beyond FMCG. Founded in August 2020 and based in Cairo, Cartona operates an asset-light marketplace that connects retailers (buyers) with FMCG companies, distributors and wholesalers (sellers) through a single app. The platform provides real-time price comparisons, delivery-time visibility, an inventory and ordering system, and analytics to help suppliers optimize go-to-market execution. Cartona also offers embedded finance and access to credit for retailers and suppliers. Its revenue model includes commissions on orders, charging suppliers for advertising to merchants, and selling market insights on buyer behavior, price competition and market share. The company reports over 30,000 merchants on the platform, more than 400,000 orders processed, an annualized gross merchandise value of EGP 1 billion (~$64 million), and partnerships with over 1,000 distributors/wholesalers and 100 FMCG companies offering 10,000+ products. Cartona is expanding its team and operations beyond Cairo and Alexandria and is considering horizontal and vertical product expansion into pharmaceuticals, electronics and fashion.

Led · Seed · Jun 2024

Connect Money provides a BaaS platform that allows trade and other businesses to issue white-label debit and credit cards and embed payments, credit and loyalty features for their customers. The platform handles card issuance, KYC, customer support and mobile banking app development, letting clients avoid building infrastructure or securing regulatory licenses. The company charges clients a subscription fee per card per month and positions itself as a back-end manager for traditional and digital businesses. Connect Money highlights use cases across sectors such as agriculture, where supply-chain companies can issue cards to farmers to improve payments and stickiness. Launched early this year, the startup is planning expansion beyond Egypt into markets including Morocco and Kenya. The founding team includes CEO Ayman Essawy, CTO Wadi Jalil and COO Abdelaziz Sarhan. The company raised an $8 million seed round to support growth.