Egypt’s Masroofi raises $1.5 million

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.