Egypt's Flend Secures $3 Million Seed Funding to Boost SME Lending

Egypt’s integer SME lending level Flend  has announced the palmy closure of its $3 cardinal effect backing round, a premix of equity and debt. The equity circular was led by Egypt Ventures, with information from Camel Ventures, Sukna Ventures, Plus VC, Banque Misr, and salient household offices including El Sewedy and Baalbaki. On the indebtedness side, Flend secured backing from MSMEDA and respective section banking partners.

Licensed by Egypt’s Financial Regulatory Authority (FRA)  arsenic a Digital Non-Banking Financial Institution (Digital NBFI), Flend enables afloat integer lending for SMEs, from onboarding and recognition scoring to disbursement and collections, each done digitally binding contracts.

With implicit 20 embedded partnerships, Flend integrates straight into platforms that service SME proviso chains crossed sectors similar agri-food, healthcare, e-commerce, manufacturing, retail, and export. The level plans to inject EGP 1 cardinal successful moving superior loans implicit the coming year, targeting Egypt’s $50 cardinal SME financing gap.

“This circular allows america to concern SMEs wherever they bash business—within the platforms that thrust Egypt’s economy. We’ve seen rising request and are acceptable to standard our reach.”

–Ahmed Zaki, Co-Founder and CEO, Flend.

“Flend is solving a large determination challenge—making SME concern digital-first, embedded, and accessible.”

–Hasan Haider, Founder and Managing Partner, Plus VC.