Egyptian Fintech MNZL Raises USD 3.5 M Seed Funding

Egypt-based fintech MNZL has raised USD 3.5 M in a seed funding round, led by P1 Ventures, Localglobe, and Ingressive Capital. Additional support came from 500 Startups, Flat6Labs, First Circle Capital, ENZA Capital, Beenok, and other angel investors.

Founded in 2023 by Sameh Saleh, Ahmed Eldessouky and Bassem El Shaer, MNZL allows users to transform their assets like homes and cars into liquidity for their projects and needs. The new capital will enable MNZL to enhance its technology, and scale operations to empower more Egyptians.