Khazna raised $16M in pre-Series B funding to support its expansion plans into Saudi Arabia and apply for a digital banking license in Egypt.
Khazna raised $16M in pre-Series B funding to support its expansion plans into Saudi Arabia and apply for a digital banking license in Egypt.
02/04/25, 11:18 AM
Location
egyptMoney raised
$16 million
Round Type
series b
Khazna, a fintech startup, recently secured $16 million in pre-Series B funding to aid in its expansion and digital banking license application. The company aims to provide financial services to low- and middle-income workers in Egypt and Saudi Arabia.
Company Info
Location
egypt
Additional Info
The company has received a total of $47 million since its inception. The company, founded by Omar Selah, Ahmed Wagueeh, Fatimah El Shenawy, and Omar Salah in 2019, provides basic banking and various financial services focusing on middle and lower-income earners. He also said the platform has 150,000 users across all its products. According to its chief executive, the startup will seek to leverage the bank’s infrastructure for some services in its pipeline.“We are aligned with CBE’s vision and Khazna, at its core, believes that world-class financial services should be available to all. The Egyptian startup has a team of 70 people, of which its leadership team comprises former executives from WorldRemit, Uber, Jumia and Match Group. One such provider is Cairo-based Khazna — a self-described “financial super app” that has raised a $38 million Series A in debt and equity. Khazna is the impact investor’s second check in an Egyptian startup after B2B retail e-commerce company Capiter.