Egyptian Fintech Masroofi Raises USD 1.5 M Funding

Egypt-based fintech Masroofi, has closed a USD 1.5 M investment round from undisclosed investors aimed to expand it’s customer base. The new round will enable Masroofi to grow its customer base, covering its evolving needs in various segments of the market, including offering neobanking services.

Founded in 2022 ,the startup’s primary focus is electronic payment services for children in Egypt. By offering advanced policies tailored to the Egyptian family’s needs, Masroofi aims to enhance financial inclusion for children between the ages of 5 and 15. One of the key offerings from Masroofi is a bank card system. Each account provides three cards, a unique feature not yet available in Egypt. The company successfully partnered with the Arab Bank to issue these cards and also signed an agreement with Visa, demonstrating their swift and decisive steps in establishing strong partnerships.