e-finance to invest $10mln in Nclude Fintech Fund

Louafi Larbi

Financial services fund for startups launched on March 20th

Staff Writer, Arab Finance

March 21, 2022

PHOTO

ArabFinance: e-finance for Digital and Financial Investments (EFIH) announced that its board of directors has approved to invest $10 million in Nclude Fintech Fund, the financial services fund for startups set for launch on March 20^th, according to a statement filed to the Egyptian Exchange (EGX).

The board also agreed on purchasing a land plot in partnership with a sister company in the New Administrative Capital, e-finance added, pointing out that the sister company will co-fund the construction at this land plot.

In 2021, e-finance recorded a consolidated net profit attributable to the parent company of EGP 519.73 million, up from EGP 353.88 million in 2020.

Founded in 2005, e-finance is the first fintech platform in Egypt and a leading digital payment infrastructures’ developer.

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