The platform plans to inject EGP 1 billion in working capital loans over the coming year, targeting Egypt’s $50 billion SME financing gap.
Egypt-based fintech startup Flend has raised $3 million in seed funding to expand its lending services targeted at small and medium-sized enterprises (SMEs). The funding round was led by Acasia Ventures, with participation from other regional investors. Flend leverages AI-powered credit scoring and digital tools to provide fast and accessible financing for underserved SMEs in Egypt, a sector that often struggles with traditional banking barriers. The company aims to use the new capital to scale its operations, enhance its proprietary technology, and grow its customer base. By addressing the financing gap, Flend is contributing to financial inclusion and economic growth in the region. The startup plans to further develop partnerships with local and regional financial institutions to expand its reach. The seed funding marks a significant step in positioning Flend as a key player in Egypt’s growing fintech ecosystem, especially in the SME lending space.
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