Start-Ups

Egyptian Fintech Bokra Secures $4.6 Million In Pre-Seed Funding

With the backing of this significant investment, the Bokra app is poised to usher in a new era of financial empowerment by offering tailored and comprehensive investment planning solutions spanning diverse asset categories.

Bokra team
Bokra team [PHOTO CREDIT: Techpoint Africa]

Bokra is a fintech platform that was launched in 2023 by Ayman El-Sawy to revolutionise wealth management in Egypt and the MENA region. The platform has successfully raised $4.6 million in pre-seed funding. The company’s goal of democratising investment options for both retail and SME investors is expected to be furthered by this fund infusion.

The company was founded to address the various financial management difficulties that small firms and individuals confront. The lack of individualised investment plans, the difficulty of traversing different asset classes, ambiguous fee structures, and the high entrance barriers presented by conventional investment outlets are some of these obstacles.

With the backing of this significant investment, the Bokra app is poised to usher in a new era of financial empowerment by offering tailored and comprehensive investment planning solutions spanning diverse asset categories. Through fractional ownership models, users will gain access to a wide array of investment products, enabling them to expand their wealth in a simplified and transparent manner.

El-Sawy underscored Bokra’s unwavering commitment to fostering financial inclusion and enhancing investment literacy across the MENA region, emphasizing, “Bokra is poised to become the preferred investment platform for both individuals and SMEs looking to diversify their fractional ownership portfolio in a simple, trackable, and informed way.”

The sentiment was echoed by Mohamed Okasha, founder and managing partner at DisrupTech Ventures, who expressed his enthusiasm for Bokra’s fundraising milestone. Okasha remarked, “Bokra’s launch is perfectly timed, the demand for alternative investment solutions has reached unprecedented heights due to remarkable returns.”

Highlighting the pressing need for innovative financial services in the region, Okasha referenced a report by Statista which revealed alarmingly high rates of unbanked individuals in countries like Morocco and Egypt. “With 67% of the population remaining unbanked, we deeply support Bokra’s mission of disrupting the industry by offering the first goal-based and asset-backed securities products,” he emphasized. “Their innovative use of investment instruments, coupled with their best-in-class management team, poises Bokra to impact the lives of millions of Egyptians.”

The investment in Bokra signifies a noteworthy achievement for the fintech sector as well as the larger financial scene in Egypt and the Middle East and North Africa. The company is well-positioned to spur broad financial inclusion and enable people and organisations to accomplish their wealth management objectives with never-before-seen ease and transparency as it keeps innovating and growing its product line.

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