Cairo Angels Syndicate Fund (CASF) Announces Investment In Finclusion Group
Cairo Angels Syndicate Fund (CASF) Announces Investment In Finclusion Group. The Cairo Angels Syndicate Fund (CASF), a micro venture capital fund that invests in early-stage startups in the Middle East and Africa, is delighted to announce its milestone investment in the African-focused fintech platform, Finclusion Group.
“Our mission is to invest and support incredible founders building digital solutions to solve essential problems. That is exactly why we decided to invest in Finclusion Group, an organization which delivers compelling solutions to underserved consumers who have historically held little or no access to credit. This represents the fund’s second investment in Africa outside of Egypt and our third Fintech investment so far,” stated Aly El Shalakany, Chief Executive Officer (CEO), Cairo Angels Syndicate Fund.
Financial inclusion is positioned prominently as an enabler of other developmental ambitions within the United Nations’ (U.N.) long-established 2030 Sustainable Development Goals (SDGs). However, economic inclusivity and access to capital remain outside of millions of Africans’ reach; the continent, home to the world’s largest collective marketplace, today still lags behind other continents in hosting the ability to provide access to safe, efficient, sustainable and 2022-era financial services for all.
Thus, Finclusion Group is an African-focused fintech platform building out a complete neobank offering for its users. Today, Finclusion Group provides earned-wage access, BNPL and a direct credit offering, hosting a presence in South Africa, Eswatini and Namibia in Southern Africa, and Kenya and Tanzania in East Africa.The Finclusion Group team is passionate about building products that improve the quality of life of its customers by making financial tools easily accessible throughout the African continent. By leveraging their risk, credit, and technology expertise, Finclusion aims to drive financial wellness and accelerate financial inclusion in Africa by building the first truly pan-African neobank.
“Finclusion is exceptionally pleased to have secured this investment from the Cairo Angels Syndicate Fund. Being the CASF’s second investment recipient outside of Egypt, in our view, speaks volumes as to the progress we have made recently. Finclusion will use this investment to continue creating an accountable ecosystem where African people and organizations can seek to bridge near-systemic wealth gaps and access the financial solutions they need to meet their myriad objectives,” stated Timothy Nuy, Co-Founder and Co-CEO, Finclusion Group.“We look forward to working with the CASF to continue building Africa’s favourite neobank”, he concluded.
About the Cairo Angels Syndicate Fund (CASF)
CASF is a micro venture capital fund launched by the Cairo Angels that invest in post-seed and pre-series A startups across the Middle East and Africa. CASF aims to help the next generation of innovators and entrepreneurs build unique and scalable market leaders.
About Finclusion Group
Finclusion Group is an African-focused fintech platform building out a complete neobank offering for its users. Today, Finclusion Group provides earned-wage access, BNPL and a direct credit offering, with a presence in South Africa, Eswatini and Namibia in Southern Africa and Kenya and Tanzania in East Africa. The Finclusion Group team is passionate about building products that help to make financial tools easily accessible for people throughout the African continent. By leveraging seasoned risk, credit and technology expertise, Finclusion Group aims to drive financial wellness and financial inclusion in Africa and, in doing so, build the first truly pan-African neobank.
