The AXIAN Group recently revealed that it has joined Disruptech Egypt Fund I, which is a venture capital fund focused on supporting technology-enabled firms and Fintech startups in Egypt.
Disruptech Egypt Fund I is a VC fund dedicated to further developing Egypt’s financial-technologies sector by supporting local startups and is nurturing a fast-growing number of firms in adjacent industry segments that are promoting financial inclusion.
The fund aims to support these startups from the seed-round stage all the way through to scaling and eventual growth.
The fund manager’s focus on helping grow Egypt‘s nascent fintech sector aligns with its wider mandate to expand access to financial services across the nation, enhancing financial inclusion and supporting economic growth.
Disruptech and the AXIAN group share the vision and belief that fintech can bring efficient solutions to market that effectively address social issues.
AXIAN’s commitment to Disruptech supports its overall strategy, which posits that advances in innovation and disruptive technologies may improve people’s lives.
This recent investment is fully-aligned with AXIAN Group’s mandate to grow within the digital economy by accelerating innovation-as-a-service to the communities it serves and by making innovative solutions accessible to the general public.
With AXIAN currently present in several nations across the world, the collaboration with Disruptech will establish a platform to identify synergies between its brands and startups in the Egyptian fintech ecosystem.
Mohamed Okasha, Managing Partner from Disruptech, said:
“We are thrilled with our partnership with Axian. Egypt is full of bright, talented founders but too often, they cannot secure the capital they need to expand their businesses. This fund is designed to change that and support drive the development of Egypt’s fintech/fintech- enabled sector.”
The Egyptian economy is one of the MENA region‘s fastest-growing markets.
It’s home to talent and resilience that are so vital to their progress.
Via this investment, AXIAN is voicing its support for firms to push the boundaries of technology, in order to transform themselves or adapt the latest technology to address new requirements.
This way, the firm can continue to build bridges for the sharing of skills and innovation that support financial inclusion across the region, according to Hassanein Hiridjee, CEO of the AXIAN Group.