Grace Ashiru
Egyptian fintech startup Khazna has secured $16 million in a pre-Series B funding round to strengthen its financial services and expand into the Saudi Arabian market. With this latest investment, Khazna’s total funding now exceeds $63 million.
The funding round included participation from both existing and new investors, such as SANAD Fund for MSME, anb Seed Fund, Aljazira Capital, Khwarizmi Ventures, Nclude, ICU Ventures, Quona Capital, Speedinvest, and Disruptech Ventures.
Founded in 2020 by Omar Saleh, Ahmed Wagueeh, and Fatimah El Shenawy, Khazna initially launched as an earned wage access platform. Over time, it has transformed into a multi-product financial application, offering services such as general-purpose credit, buy now pay later (BNPL), and bill payments. The platform primarily serves the nearly 50% of Egyptians who own smartphones but lack access to formal financial services.
Omar Saleh, Co-Founder and CEO of Khazna, highlighted the significance of this investment: “This funding round is a testament to the dedication of Khazna’s team and our investors’ belief in our mission. As we expand into Saudi Arabia and strengthen our presence in Egypt, we remain committed to driving financial inclusion and delivering cutting-edge digital experiences across MENA.”
This investment reflects the growing confidence in fintech solutions designed to address the financial needs of underserved populations in the Middle East and North Africa.
Khazna also plans to apply for a digital banking license, which would allow it to accept customer deposits and expand its range of financial services. Additionally, the company aims to establish a foothold in the Saudi market, leveraging strategic partnerships to extend its reach and serve a broader customer base.
