Egypt’s Masroofi raises $1.5 million
- Date: 05-Jul-2023
- Source: Wamda
- Sector:Financial Services
- Country:Egypt
Egypt’s Masroofi raises $1.5 million
Source: African Heroes
Masroofi, a financial technology startup in Egypt, recently closed a financing round of $1.5 million from undisclosed investors. Masroofi focuses on electronic payment services for children, aiming to provide new and advanced solutions with areas for growth.
The founders of Masroofi, Mostafa Abdel-Khabeer and Sayed Hosni, turned down an offer of 16 million pounds from investors in the “Shark Tank” program. Instead, they sought external investment, which culminated in a successful financing round. The investment amount of $1.5 million will support the company’s expansion and operational activities.