The Series A equity round was led by Africa50, a pan-African infrastructure investment fund, marking a major milestone as the largest investment by an African fund in an electric mobility company.
This latest cohort of startups joins a growing number of Algerian businesses that have benefited from the government’s initiative to connect local entrepreneurs with global tech giants and renowned universities.
The new product is part of Fawry’s broader strategy to build an integrated financial ecosystem, bringing a fully digital medical insurance solution to individuals and families across Egypt.
“Egypt’s vibrant market, with its rich talent pool and innovative business ideas, offers tremendous potential for companies like ours,” said Haidar Nizam, Zoho’s President for the Middle East and Africa.
