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Wednesday, 22 April 2020

Disruptech fintech fund makes its first investment in two Egyptian companies

STARTUP WATCH- Disruptech makes its first investment in two Egyptian companies: Disruptech, a USD 25 mn fintech fund recently set up by Mohamed Okasha, a former top exec at fintech player Fawry, has made its first investment in two Egyptian startups, Khazna and Brimore, according to Menabytes. The fund is investing a six-figure USD sum, Okasha said, without disclosing the exact amount. Khazna will provide mobile financial services to Egyptians who do not have bank accounts, including a salary cash advance app, while Brimore serves local manufacturers and suppliers to access individual sales agents to market their products directly to consumers using mobile apps.

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