Mauritius-based fintech startup Finclusion Group raises funding from Cairo Angels

Finclusion Group, a Mauritius-based fintech company, has received funding from Cairo Angels Syndicate Fund. This micro-capital fund invests in startups in Africa and the Middle East.

Finclusion Group is an Africa-focused fintech platform, offering a complete neobank solution for its users. The company offers direct credit services, BNPL, earned wage access and BNPL to its clients, with a presence across South Africa, Eswatini Namibia, Kenya, Tanzania and Kenya.

Finclusion Group, which recently raised US$20M in a round of funding with Lendable, a top fintech debt financing provider, and itself, last year. HelloHR, a South African payroll software startup, was invested.

The Cairo Angels Syndicate Fund provided additional funding for the company. At launch, Cairo Angels was Egypt’s first formal network of angel investors, and since its formation it has been one of the most active early-stage investors in startups and high growth businesses in the Middle East and Africa, with 31 investee companies across 18 different sectors. 

It is syndicate fund a micro venture capital fund that invests pre-Series A or post-seed startups This report focuses on Egypt, Saudi Arabia, Nigeria and South Africa..

“Finclusion Group is exceptionally pleased to have the Cairo Angels Syndicate Fund join 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,” said Timothy Nuy, co-founder and co-CEO of Finclusion Group. “We look forward to working with the CASF to continue building Africa’s neobank.”

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