Bokra grants credit line to iSupply: Pharma distribution startup iSupply secured USD 3 mn in shariah-compliant financing from fintech Bokra, according to a press release (pdf).

Use of proceeds: iSupply will use the fresh funds — which is structured as a revenue-based revolving facility — to scale up its operations locally and strengthen its medical supply chain.

SOUND SMART- A revenue-based revolving financing is a flexible credit line repaid as a percentage of future revenues, allowing funds to be reborrowed once repaid.

What they said: “By extending a revenue-based revolving financing to iSupply, we’re supporting a data-driven healthcare disruptor to scale responsibly, while offering our investors access to a real economy product that delivers purpose-driven returns. It’s a clear example of how ethical finance can fuel growth in essential sectors and drive sustainable, long-term outcomes,” Bokra CEO Ayman ElSawy said.

One of many in the pipeline: Elsawy said in February that the startup plans to issue EGP 20 bn in sukuk across five offerings this year. The fintech has recently closed an EGP 3 bn shariah-compliant mudarabah sukuk issuance for Raya Holding subsidiary Aman for Microfinance.

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