Cairo Angels Syndicate Fund (CASF), a venture capital fund that invests in early-stage start-ups in the Middle East and Africa, recently announced an investment in African Finclusion Group. The money committed and the quantity of shares purchased were not made public. Finclusion Group will be able to expand its activity in its African markets thanks to the funds granted.
“Finclusion Group is pleased to welcome Cairo Angels Syndicate Fund as a shareholder. The group will continue to expand while establishing a solid collaboration for future global expansion,” Finclusion Group co-founder and deputy managing director Timothy Nuy remarked.
This is the Egyptian fund’s second investment in Africa outside of Egypt and its third investment in a fintech startup. This is further capital for Finclusion Group, which raised $20 million in January.
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The neo-bank, which provides customers with salary, “buy now and pay later” payment solutions, and loan offers, will continue to expand in its primary operating countries in East and Southern Africa, most notably in Eswatini, Namibia, South Africa, Kenya, and Tanzania.
Timothy Nuy’s company, launched in 2019, will also expand its variety of banking goods and services for the benefit of its consumers.
Charles Rapulu Udoh
Charles Rapulu Udoh is a Lagos-based lawyer, who has several years of experience working in Africa’s burgeoning tech startup industry. He has closed multi-million dollar deals bordering on venture capital, private equity, intellectual property (trademark, patent or design, etc.), mergers and acquisitions, in countries such as in the Delaware, New York, UK, Singapore, British Virgin Islands, South Africa, Nigeria etc. He’s also a corporate governance and cross-border data privacy and tax expert.
As an award-winning writer and researcher, he is passionate about telling the African startup story, and is one of the continent’s pioneers in this regard. You can book a session and speak with him using the link: https://insightsbyexperts.com/view_expert/charles-rapulu-udoh