“This investment is part of the Choose Africa initiative, which Proparco launched to support SMEs and startups across Africa,” said Jérémie Ceyrac, Proparco’s Investment Director.
The latest funding contributions are part of Egypt’s broader “Fund of Funds” initiative, which has ambitious plans to secure up to $1 billion in funding.
Mapping Africa's angel investor landscape: Our research tracks over 400 individuals – from finance to law and tech leadership – actively deploying capital into the continent's booming startup ecosystem.
This tech-first approach has yielded impressive results, with Sumet reporting 15x growth since the second quarter of 2023 and a tripling of its team to over 70 employees.
Giza-based Swypex recently raised $4 million in seed funding led by Accel. However, Fawry’s scale, resources, and latest additions to its offering further complicate matters for the two-year-old fintech.
Mapping Africa's angel investor landscape: Our research tracks over 400 individuals – from finance to law and tech leadership – actively deploying capital into the continent's booming startup ecosystem.
The EU's MiCA framework has approved ten stablecoin issuers, including Circle and Crypto.com, to operate in the region. However, Tether, the largest stablecoin issuer, has been notably excluded from this EU approval.
