Egypt based fintech Khazna raises seed funding to promote financial inclusion

EGYPT – Cairo-based fintech Khazna has raised seed funding to enable it offer “customer-centric services” to over 20 million active smartphone users in Egypt who lack access to formal banking and financial services. Menabytes reported that the Egyptian VC Algebra Ventures led the seed round which also featured Accion Venture Lab, Accion’s seed-stage fund that recently closed US$33 million in fresh funds. Founded last year by Omar Saleh, Ahmed Wagueeh, Fatimah El Shenawy, and Omar Salah, Khazna aims to provide mobile financial services to over 20 million underbanked Egyptian. Khazna…

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