FinTech Innovation Fund

Funding is one of the significant pillars of CBE’s Fintech & Innovation strategy. In that context, FinTech and FinTech-enabled focused fund was established in March 2022, led by the 3 commercial banks; Banque Misr, National Bank of Egypt, and Banque du Caire, along with Egyptian Banks Company (EBC), E-finance Investment Group and Mastercard. This fund aims to be the largest Fintech-focused fund across the Middle East and Africa region with target capital of $150 million, with the objective of accelerating Egypt’s transformation into a digital & financially inclusive economy.

The fund supports early and growth stage entrepreneurs who are tackling financial inclusion and enables their success by offering a full-stack support ecosystem for FinTech and FinTech-enabled start-ups who are currently operating in or planning to operate in Egypt.

Objectives of the Investment Vehicle:

Nurture promising talent and invest in the future gains they will bring to the Egyptian market.

Direct investments to local and international FinTech companies that intend to deploy their solutions in the Egyptian market.

Direct investments to both the FinTech sector and FinTech-enabling domains.

Direct part of the investments to support early stage startups.

Activate the FinTech industry in the Egyptian market.

Promote digital transformation and raise financial inclusion rates.

How we support startups in our FinTech community

As part of the overall Innovation & FinTech Strategy formulated and adopted by the Central Bank of Egypt, the CBE is championing a new Investment Platform in collaboration with a number of local and international institutional partners to mobilize funding for VC Funds, incubators and accelerators focusing on Tech & FinTech startups. The new Investment Platform (“Innovation Fund”) shall fund startups both directly through co-investments and indirectly through the selected VC funds and other vehicles. As well as directly through co-investments. The funding to be mobilized directly and indirectly by the new platform is expected to start with USD 50-100 million upon launch reaching to USD 350-500 million over a period of 5 years.
How we support startups in our FinTech community
The Innovation Fund shall be independently managed under the supervision of its Board of Directors and shall have ongoing collaboration with the new FinTech Hub as well as Egyptian regulators to ensure addressing regulation uncertainties facing the ecosystem and promote new developments in this area going forward.

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