Close Menu
    What's Hot

    China to Drop Tariffs on African Exports

    June 13, 2025

    Egypt’s Paysky Unveils “Pay by Bank” to Transform Digital Payments

    June 11, 2025

    Experts Unite to Close Africa’s $81 Billion Trade Finance Gap

    June 9, 2025
    Gulf Africa ReviewGulf Africa Review
    • Industry
    • Infrastructure
      1. Airport
      2. Hospitality
      3. Ports
      4. Power
      5. Rail
      6. Roads
      7. Transport
      Featured

      Osun seeks to capitalise on infrastructure momentum

      Infrastructure May 21, 2018
      Recent

      Salpha Energy Secures $1.3M to Expand Nigeria’s Solar Manufacturing Capacity

      June 6, 2025

      South Africa – Infrastructure Overhaul Set to Boost Transport and Trade

      May 16, 2025

      Navigating Challenges in the African Air Cargo Industry

      March 5, 2025
    • Business & Trade
      1. Agri-Business
      2. Entrepreneurship
      3. FDI
      4. Legislative
      5. MEA
      6. Telecoms
      7. Properties
      Featured

      Analysts predict bullish future for Nigeria’s REITs market

      Business Business & Trade January 21, 2018
      Recent

      Egypt’s Paysky Unveils “Pay by Bank” to Transform Digital Payments

      June 11, 2025

      Experts Unite to Close Africa’s $81 Billion Trade Finance Gap

      June 9, 2025

      Nigeria Launches Air Cargo Corridor to Boost Intra-African Trade

      May 30, 2025
    • Finance
      1. Banking
      2. Islamic finance
      Featured

      DP World and Nedbank Elevate Trade Finance in Africa

      Finance Trade September 18, 2024
      Recent

      DP World and Nedbank Elevate Trade Finance in Africa

      September 18, 2024

      Arab Coordination Group commits $50 billion for Africa’s sustainable development

      November 13, 2023

      MENAT to see investment flows increase substantially

      September 4, 2023
    • Innovation
    Gulf Africa ReviewGulf Africa Review
    Innovation

    Blnk raises USD 32 million in funding

    November 14, 20223 Mins Read
    Facebook Twitter Pinterest LinkedIn Tumblr Email
    BInk
    BInk aims to increase access to financing across a range of sectors.
    Share
    Facebook Twitter LinkedIn Pinterest Email

    Blnk, an Egyptian fintech startup, aims to improve financial inclusion among underserved communities across the country.

    Blnk, an Egyptian fintech that aims to enable instant consumer credit in Egypt, has raised USD 23.7 million in equity and debt funding and a further USD 8.3 million in securitized bond issuance. The company aims to accelerate financial inclusion among underserved communities in Egypt. The funds will be used to further develop the company’s AI-powered lending system and finance the company’s customers.

    The pre-seed and seed rounds were led by Abi Dhabi’s Emirates International Investment Company (EIIC) and Egypt-based VC firm Sawari Ventures, along with local and international angel investors. The debt funding was secured from local banks and the USD 8.3 securitized bond issuance was underwritten by National Bank of Egypt and Banque du Caire.

    Blnk: Instantly providing finance

    Blnk’s digital lending platform allows merchants to instantly underwrite and finance their customers’ purchases at the point of sale. According to the company, the process takes only three minutes and can provide access to financing for a wide range of products or services with installments ranging from six to 36 months. Blnk has disbursed more than USD 20 million in loans to date. Merchants are also boosting their profitability via the transaction commission that Blnk provides.

    Partnering with Blnk

    Speaking about the new funding, Amr Sultan, co-founder and CEO of Blnk said, “Our mission is to make it easier for more Egyptians to purchase the products and services they desire by offering inclusive and convenient consumer credit at the point of sale. We are delighted to have the backing of a great cohort of investors at an early stage in our journey. With their support, we believe we can drive financial inclusion in Egypt, as well as the wider Middle East and North Africa region”.

    Joseph Iskander, Head of Investment at EIIC, said, “we are convinced that the Egyptian market and its startup ecosystem present a compelling opportunity for regional and international investors and we are committed to identifying and investing in value accretive businesses. We are pleased to partner with Blnk to drive financial inclusion and economic development in Egypt and we look forward to working with the team to achieve their goals”.

    Hany Al Sonbaty, Managing Partner at Sawari Ventures, said, “we are thrilled to have Blnk in our portfolio and backing them to deliver innovative solutions to tackle the urgent challenge of financial inclusion in Egypt. The company has the right combination of a seasoned team and a scalable business model, with a clear path to profitability”.

    A lack of credit hampering growth

    According to the International Monetary Fund, Egypt is expected to become the second largest Arab and African economy by the end of the year. However, Egypt, like much of Africa, is still a largely cash-based economy and few individuals have access to credit, limiting their economic opportunities.

    Money Fellows, another Egyptian startup, recently receiving funding to support the expansion of money circles across Egypt in order to allow individuals to create savings or borrowing groups.

    Egypt financial inclusion Fintech investment Startups
    Share. Facebook Twitter Pinterest LinkedIn Tumblr Telegram Email
    Previous ArticleNamibia Wildlife Resorts rekindles transfrontier park commitment with South Africa
    Next Article EBRD to support six startups under the Smart Green Governorates initiative

    Related Posts

    Energy Infrastructure Power

    Salpha Energy Secures $1.3M to Expand Nigeria’s Solar Manufacturing Capacity

    June 6, 2025
    Innovation Logistics Startups Trade

    Turuq Innovations: Transforming Egypt’s Last-Mile Delivery for Small Businesses

    June 4, 2025
    Business & Trade

    MaxAB-Wasoko Acquires Egypt’s Fatura to Create Africa’s Leading E-Commerce Super App

    May 26, 2025
    View 2 Comments

    2 Comments

    1. Pingback: Cellulant and Solv Kenya sign financial services partnership

    2. Pingback: African startups raise USD 309.87 million in November

    Leave A Reply Cancel Reply

    LATEST STORIES

    China to Drop Tariffs on African Exports

    June 13, 2025

    Egypt’s Paysky Unveils “Pay by Bank” to Transform Digital Payments

    June 11, 2025

    Experts Unite to Close Africa’s $81 Billion Trade Finance Gap

    June 9, 2025

    Salpha Energy Secures $1.3M to Expand Nigeria’s Solar Manufacturing Capacity

    June 6, 2025

    Turuq Innovations: Transforming Egypt’s Last-Mile Delivery for Small Businesses

    June 4, 2025
    • Business
      • Agri-Business
      • Entrepreneurship
      • FDI
      • Legislative
      • MEA
      • Properties
      • Telecoms
    • Infrastructure
      • Airport
      • Hospitality
      • Ports
      • Power
      • Rail
      • Roads
      • Transport
    • Finance
      • Banking
      • Islamic finance
    • Commodities
      • Agri commodities
      • Metals & minerals
      • Precious metals
    • Culture & Society
      • Education
      • Energy
    GAR logo
    © GulfAfricaReview.com 2014-2022, All Rights Reserved.

    Gulf Africa Review is a trade news and future networking platform for businesses leaders and trade organisations, established to first inform and secondly assist in facilitating the ongoing business and trade relations between the Gulf Cooperation Council countries and Sub-Saharan Africa. We aim to provide an apolitical voice for this channel of economic activity in a way that benefits both geographies by improving the availability of information about market events, developments and opportunities, while publicising the successes achieved by this ever-broadening regional relationship.

      Subscribe to our newsletter

      Type above and press Enter to search. Press Esc to cancel.