Bokra secures $4.6mln funding round to foster wealth management in MENA

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Cairo – Egypt-based fintech Bokra has closed a $4.60 million pre-Seed round led by DisrupTech Ventures and SS Capital, according to a press release.

The fintech will use the funding to reshape wealth management in the MENA region by becoming the first platform to offer goal-based investment and saving products through asset-backed securities.

It will also launch the Bokra app to expand the investment products and geographically scale operations across MENA.

Founded in 2023 by Ayman El-Sawy, Bokra helps retail and SME investors save and invest across multiple asset classes.

The app provides balanced financial and investment planning across different asset classes, which is built for the first time upon asset-backed securities.

El-Sawy, Founder and CEO of Bokra, stated: "Since day one, we have been on a mission to make high-yield and asset-backed investment opportunities a reality for retail investors.”

“These instruments are set to undergo financial structuring through our FRA-licensed subsidiary sukuk arm, in return igniting radical and substantial impact on individuals and SMEs,” he added.

The CEO noted: “Such disruption is made possible by our advanced fintech solutions and, more importantly, by our management team, which possesses accumulated expertise spanning up to 120 years in financial technology and the non-banking financial sector.”

Mohamed Okasha, Founder and Managing Partner at DisrupTech Ventures, commented: "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."