Khazna, a leading financial super app that offers easy-to-use, technology-driven financial services to underserved segments, announces closing a $16 million pre-Series B funding round.
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The round saw participation from new and existing investors, including SANAD Fund for MSME, anb Seed Fund (managed by anb Capital), Aljazira Capital (the investment arm of Bank Aljazira of Saudi Arabia), Khwarizmi Ventures, Nclude (the fintech fund set up by Egypt’s largest national banks), ICU Ventures, Quona, Speedinvest and Disruptech Ventures.
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This round of funding underscores investor confidence in Khazna’s world-class team, innovative business model, and significant potential to transform the digital banking industry across the region. With this new infusion of capital, the company is poised to further fuel its growth by applying for a digital banking license in Egypt and advancing its expansion into the Saudi Arabian market. Under Saudi Vision 2030, the Kingdom has seen tremendous digital economy growth and attracted top financial technology innovators. Khazna’s expansion into Saudi Arabia will involve strategic partnerships to ensure a tailored approach that meets the specific needs of its target user base.
Omar Saleh, CEO of Khazna, stated, “Closing this funding round is a pivotal achievement for Khazna’s team. This not only propels our core business but also empowers us to accelerate our mission of advancing financial inclusion across the MENA region. Khazna’s 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.”
About Khazna
Egypt-based fintech Khazna was launched in 2020 by Omar Saleh, Ahmed Wagueeh and Fatimah El Shenawy, Khazna aims to serve underbanked Egyptians who have little access to formal financial services, including general-purpose credit, buy now pay later (BNPL), and bill payment. In March 2022, Khazna closed a Series A round of $38 million in equity and debt.
