Egypt’s CASF invests in South Africa’s Finclusion Group

Cairo Angels Syndicate Fund is a micro venture capital firm that invests in early stage startups in Africa and Middle East.

Finclusion Group is an African-focused fintech company that offers a complete neo bank service to its customers. Today, Finclusion Group provides earned-wage access, BNPL and direct credit to its clients with a presence in South Africa, Eswatini & Namibia in Southern Africa, and Kenya & Tanzania in East Africa.

Finclusion Group is passionate about creating products that enhance the quality of life for its customers. This includes making financial tools available throughout Africa. Finclusion Group is a technology-based bank that combines their credit, risk and technology expertise. It aims to promote financial wellness and financial inclusion across Africa.

“Finclusion Group is extremely pleased to welcome the Cairo Angels Syndicate Fund to its shareholder base. With CASF, the Group continues building out its shareholder base with aligned investors – and has secured a strong partner for potential future geographic expansion. Being the CASF’s second investment recipient outside of Egypt, in our view, speaks volumes as to the progress we have made recently,” stated Timothy Nuy, Co-Founder and Co-CEO, Finclusion Group. “We look forward to working with the CASF to continue building Africa’s neobank,” he concluded.

“Our mission it to invest in and support amazing founders building digital platforms to solve fundamental problems. Finclusion Group is providing compelling solutions for underserved consumers who historically have had limited or no access credit. This is precisely why we invested in it. This represents the fund’s second investment in Africa outside of Egypt and our third Fintech investment so far,” said Aly El Shalakany, CEO of the Cairo Angels Syndicate Fund.

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