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Disruptech Egypt: supporting Fintech start-ups
Project
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Signature date
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Location
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Egypt
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Financing tool
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Financing amount (Euro)
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4630000
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Financing details
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USD 5m Equity Investment
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Customer
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Disruptech Egypt Fund I
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Type of customer
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Investment fund
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Country of headquarters
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The Netherlands
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Project number
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IEG1000
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Environmental and social ranking
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IF-C
This information is given at the time of signature, without prejudice to any developments in the operation/project.
Proparco has invested in Disruptech Egypt’s first investment fund which supports Egyptian start-ups in the Fintech sector, from their early stages to the marketing of their products and services nationwide.
Client presentation
Disruptech Egypt is an investment company set up by Mohamed OKASHA, Malek SULTAN, Yehia ABOUELWAFA and Dina H SHERIF. Their aim is to be a catalyst in transforming the financial ecosystem in Egypt by allocating financing to innovative Egyptian start-ups in the Fintech sector, operating for the modernization of the banking sector, the digitalization of loans and savings, e-distribution and e-commerce. Disruptech Egypt Fund I is the first fund launched by the partners.
Project description
Proparco is supporting Disruptech Egypt for the launch of its investment fund Disruptech Egypt Fund I with USD 5m of financing. Disruptech Egypt offers support to start-ups from the seed stage to the marketing of the product/service on the Egyptian domestic market with follow-up investments. The fund wishes to target companies in the “underserved” portfolio segment with high value-added support.
Project impact
On the economic and social front, the main expected impacts are: support for 26 start-ups, 7,430 direct jobs created or maintained over the next 10 years in the investee companies, and the mobilization of some EUR 5m of private finance.
The project should contribute to SDG 8 (“Decent work and economic growth”).