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Egypt-based VC fund The Cairo Angels Syndicate Fund (CASF) has invested an undisclosed amount in the Nigerian fintech CredPal, which is backed by Y-Combinator and Google. The CASF funding will be used to expand CredPal’s services across Africa with a focus on key markets, namely Egypt, Kenya, Ghana, and Cameroon.
CredPal is a buy-now-pay-later (BNPL) fintech that allows businesses and individuals to buy anything and pay for it in installments with online and offline merchants. The fintech provides a platform that facilitates users to set up their accounts and choose their payment plans leveraging technology to minimize risk and seamlessly connect to multiple financial institutions that provide credit for customers.