Cairo - Sharikat Mubasher: Blnk, an Egypt-based fintech company enabling financial inclusion through rapid point-of-sale financing, secured a total funding of over $37 million to scale its consumer finance operations in Egypt.
The new capital encompassed a $12.5 million in equity funding and a $24.6 million in local debt facilities, the company revealed in a press release today.
The Series A equity funding was led by Algebra Ventures, with participation from SANAD Fund for MSME, Endeavor Catalyst, and Emirates International Investment Company (EIIC), while the debt funding was secured from several leading local banks, with notable participation from Suez Canal Bank, Bank Albaraka, and National Bank of Egypt, as well as Non-Bank Financial institutions (NBFIs), including Corplease, Globalcorp, and BM Lease, among others.
Blnk’s expansion strategy will focus on onboarding women and the underbanked by offering flexible loan sizes for a wider range of products and services.
The new funding will help Blnk extend its tech capabilities, expand into new products, explore geographic expansion, and launch its credit card program to enable customers to utilize the credit limit beyond its network.
Commenting on this milestone, Amr Sultan, CEO and Co-founder of Blnk, said: “This new round of funding positions us to strengthen our profitability, expanding our reach, diversifying our offerings, and doubling down on our commitment to unlocking financial access for millions of consumers in Egypt and beyond.”
Blnk is adopting a transformative approach to financial risk assessment, replacing traditional, static markers with dynamic, data-driven risk maps. Its proprietary AI analyzes hyper-local variables to identify patterns that inform precise credit decisioning. The company also uses specialized machine learning models to provide real-time, precise Probability of Default (PD) predictions, enabling instant credit decisions with risk-based pricing.
