Cairo - Sharikat Mubasher: European Bank for Reconstruction and Development (EBRD) signed an agreement to invest $21 million in Egypt-based MSS Holding, a Lorax Capital Partners company specializing in payments infrastructure and technology.
According to the EBRD, the investment involves a committed equity investment of $14.7 million (including pro-rata share of transaction costs) in DigiPay U.A., an entity established for the sole purpose of investing in MSS Holding, and an uncommitted follow-on equity investment envelope of up to $6.3 million to enable pursuing inorganic growth opportunities.
By supporting Lorax's investment in MSS Holding, Lorax will leverage its experience as an investor in successful fintech companies in the region and will drive growth by pursuing geographic expansion into underserved countries in the region, strategically expanding the client base, and further developing the product suite.
This investment aligns with EBRD’s Strategy for Egypt, which aims to enhance the country’s competitiveness by supporting the private sector growth and promote greater financial inclusion by advancing fintech and other digital solutions.
