Egypt-based fintech Khazna has secured $16 million in a pre-Series B funding round, reinforcing its commitment to advancing financial inclusion across the MENA region.
The round saw participation from both new and existing investors, including:
- SANAD Fund for MSME
- anb Seed Fund (managed by anb Capital)
- Aljazira Capital (investment arm of Bank Aljazira, Saudi Arabia)
- Khwarizmi Ventures
- Nclude (fintech fund backed by Egypt’s largest banks)
- ICU Ventures
- Quona
- Speedinvest
- Disruptech Ventures
This funding will support Khazna’s application for a digital banking license in Egypt while also fueling its expansion into Saudi Arabia, a rapidly growing fintech hub under Saudi Vision 2030.
Bridging the Financial Gap for the Underserved
Founded in 2020 by Omar Saleh, Ahmed Wagueeh, and Fatimah El Shenawy, Khazna provides digital financial services to underbanked Egyptians who have limited access to traditional banking.
Its financial super app offers:
- General-purpose credit solutions
- Buy Now, Pay Later (BNPL) services
- Bill payment and financial management tools
With a focus on financial inclusion, Khazna empowers users to access banking services without needing a traditional bank account.
Saudi Expansion – A Key Growth Milestone
The company’s next big step is entering Saudi Arabia, one of MENA’s most promising fintech markets. With a digitally savvy population and strong regulatory support, the Kingdom presents significant opportunities for fintech innovators.
Khazna’s Saudi expansion will involve:
- Strategic partnerships with local institutions
- Tailored financial solutions aligned with Saudi market needs
- Technology-driven financial inclusion initiatives
CEO Omar Saleh expressed enthusiasm about this next phase:
“Closing this funding round is a pivotal achievement for Khazna’s team. It not only propels our core business but also empowers us to accelerate our mission of advancing financial inclusion across the MENA region. Our entry into Saudi Arabia marks the beginning of a new chapter, and we are committed to delivering an unparalleled digital user experience across the region.”
A Strong Track Record of Investor Confidence
Khazna has consistently attracted investment from top global and regional firms. In March 2022, the company closed a $38 million Series A in equity and debt, further cementing its reputation as a high-potential fintech disruptor.
With this latest funding, Khazna is well-positioned to become a leading digital financial services provider in both Egypt and Saudi Arabia, transforming banking accessibility across the region.
