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Nclude Fund Invests USD 24.5 million into 8 Fintech Startups

Nclude Fund Invests USD 24.5 million into 8 Fintech Startups
  • Exceeding USD 105 million as capital, the Nclude fund has injected USD 24.5 million into 8 fintech startups.
  • In March 2023, the CBE approved the funds management to shift to Development Partners International (DPI).
  • The fund encourages foreign investment into the fintech sector.

Attracting Foreign Investment 

The Central Bank of Egypt (CBE) revealed in the fourth edition of its economic magazine that the Nclude Fund injected USD 24.5 million into 8 fintech startups.  The fund’s capital exceeded USD 105 million and thus encouraged foreign investment in this vital sector. Moreover, every US dollar invested by the fund has yielded 5 US dollars as investment into these fintech companies. 

In an attempt to further encourage investment, in March 2023, the CBE agreed to change fund management in response to main shareholders’ demand. They approved the shift to the company Development Partners International (DPI) specialized in fintech and focused on garnering foreign investment.

Nclude Fund 

Nclude is a fintech innovation engine powered by tech startups developing a financial technology stack. This is to accelerate Egypt’s transformation into a digital, financially inclusive economy and position it as MENA’s Fintech Innovation Hub.

The Nclude Fund launched in March 2022 in  collaboration with National Bank of Egypt, Banque Misr, Banque du Caire in addition with specialized fintech companies such as eFinance Investment Group and Mastercard. This collaboration aims to foster innovation in fintech, financial inclusion, garner foreign investment and center Egypt in the fintech sector.

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