The $700,000 in pre-seed funding will allow Scale to accelerate its market entry into three African nations, where the company aims to enable fintechs and other businesses to offer payment solutions that are otherwise challenging to deploy.
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.
The timing of Gambaryan’s release has stirred fresh debate in Nigeria, given its close alignment with the group’s formation, though neither side has officially linked the two.
