Addressing Egypt's significant credit card gap, fintech blnk has secured $37.1M in a Series A funding round. The company provides instant point-of-sale financing, aiming to offer an alternative to cash or high-interest lenders for the vast majority of Egyptians who lack access to traditional credit.
Investors in the round included Algebra Ventures, SANAD Fund for MSME, Endeavor Catalyst, Emirates International Investment Company (EIIC), National Bank of Egypt (NBE), Suez Canal Bank, Bank Albaraka, CORPLEASE, GlobalCorp-, and BM Lease. Blnk is licensed by the Financial Regulatory Authority of Egypt.
