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Monday, 4 January 2021

Micro-lending app Cassbana raises USD 1 mn+ from Distruptech

Microfinance startup Cassbana has raised USD 1 mn+ in a funding round led by Disruptech, former Fawry CEO Mohamed Okasha’s USD 25 mn fintech fund, the startup said in a statement carried by Al Mal. The company says it uses AI to run a behavior-based credit scoring system, which determines individuals and businesses access to credit. It launched its app on a trial basis last June, and hopes to attract 1 mn users by the end of 2021, founder and CEO Haitham Nassar (LinkedIn) said.

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