Egyptian financial super app Khazna raises $38mln

Egyptian financial super app Khazna raises $38mln

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Cairo, Egypt: Khazna, a Cairo-based financial Super App that offers easy to use, technology-driven financial services to Egypt’s underserved consumers and micro-businesses, announced today it has raised a Series A round of $38 million in equity and debt, with the equity investment led by impact investor Quona Capital with the participation of Speedinvest, Nclude, Khawarizmi Ventures, Algebra Ventures, Accion Venture Lab, Disruptech, AB Accelerator by Arab Bank, and CVentures, among others. The company’s debt financing is provided by Lendable, while the Arab Bank Egypt is the Security Agent facilitating the transaction. The round comes as Khazna ramps up its efforts to replace informal cash-driven alternatives across Egypt, pairing a digital native solution with an innovative business model.

Khazna’s super app caters to 50% of Egyptians who are active smartphone users and lack access to formal financial services. Khazna currently offers General Purpose Credit, Buy Now Pay Later (BNPL), and Bill Payment. The company’s vision is to digitize cash transactions across Egypt, in response to the Central Bank of Egypt’s recent push for financial inclusion and a “less-cash” framework.

Khazna launched in 2020 with an Earned Wage Access product that has since grown into the multi-product offering available today. Khazna’s leadership team is