More
    HomeEcosystem NewsNORTHERN AFRICAJapan's Leading VC Global Brain Invests in Egyptian BNPL Fintech Rise

    Japan’s Leading VC Global Brain Invests in Egyptian BNPL Fintech Rise

    Published on

    spot_img

    Global Brain, a leading venture capital firm headquartered in Tokyo, has announced a strategic investment in Rise, an Egyptian financial technology startup. The investment, facilitated through Global Brain’s GB-IX Growth Fund, underscores the firm’s confidence in Rise’s potential to transform financial services in the Middle East and North Africa (MENA) region.

    Founded in March 2023, Rise has rapidly gained traction in Egypt’s fintech sector, offering innovative solutions aimed at increasing financial inclusion and access for individuals and businesses. Specifically, the company offers a “buy now, pay later” (BNPL) model, allowing customers to make purchases and pay for them in installments over time. This model helps to simplify payments and make them more accessible for individuals and businesses, particularly those who may not have access to traditional credit options. Rise’s innovative approach aims to address the growing demand for user-friendly and inclusive financial solutions in the region, and their partnership with Global Brain signals growing confidence in the potential of fintech innovation to transform the financial landscape in the MENA region.

    Yasuhiko Yurimoto, Representative of Global Brain, emphasized the strategic importance of the investment, stating, “We recognize the immense potential of technology-driven financial services in Egypt and the wider MENA region. Rise, with its experienced team and innovative approach, is poised to capitalize on this growing market.”

    The investment comes amidst a dynamic period for Egypt’s financial landscape. Recent economic challenges have highlighted the need for accessible and efficient financial solutions. The Egyptian government, through regulatory bodies like the Central Bank of Egypt and the Financial Regulatory Authority, has actively encouraged fintech development through supportive policies and frameworks.

    Abe Abdulla, CEO of Rise, expressed enthusiasm about the partnership, stating, “Global Brain’s investment and strategic support will be invaluable as we scale our operations and expand our reach across the MENA region. Their expertise and network will accelerate our mission to revolutionize financial services for millions of people.”

    Global Brain’s investment in Rise is a testament to the growing recognition of the MENA region as a fertile ground for fintech innovation. With a young, tech-savvy population, increasing smartphone penetration, and government initiatives fostering a favorable regulatory environment, the region is witnessing a surge in fintech startups addressing various financial needs.

    The collaboration between Global Brain and Rise not only injects capital into the startup but also provides access to Global Brain’s extensive network of financial institutions and industry experts. This strategic partnership is expected to foster knowledge exchange, technological collaboration, and market expansion opportunities for Rise.

    As the fintech landscape in the MENA region continues to evolve, the investment in Rise by Global Brain marks a significant milestone, signaling the growing confidence of international investors in the region’s potential for technological disruption and financial inclusion.

    Latest articles

    Mobility Startup Zeelo Exits South Africa, Hands Reins to Ride-Sharing Rival LULA

    Zeelo, a US-based company that launched its South African operations in 2019, has decided to exit the market to focus on its core markets in the US, UK, and Ireland.

    Egypt’s dopay Secures $13.5M to Expand Digital Payroll Solutions for Underbanked Workers

    dopay’s expansion plans include the development of a self-financing lending model in collaboration with partner banks, which will leverage deposited funds to create a sustainable lending portfolio

    d.light Secures $176 Million to Expand Solar Access in East Africa

    The company’s PayGo model allows customers to pay for solar products in installments using mobile money.

    New US Parole Program Offers 5-Year Visa to African Startups with $260K+ Raised

    To qualify, entrepreneur must have a significant ownership stake (at least 10%) in a U.S.-based startup that was formed within the last five years.

    More like this

    Mobility Startup Zeelo Exits South Africa, Hands Reins to Ride-Sharing Rival LULA

    Zeelo, a US-based company that launched its South African operations in 2019, has decided to exit the market to focus on its core markets in the US, UK, and Ireland.

    Egypt’s dopay Secures $13.5M to Expand Digital Payroll Solutions for Underbanked Workers

    dopay’s expansion plans include the development of a self-financing lending model in collaboration with partner banks, which will leverage deposited funds to create a sustainable lending portfolio

    d.light Secures $176 Million to Expand Solar Access in East Africa

    The company’s PayGo model allows customers to pay for solar products in installments using mobile money.