IBF & Company acquires Techno Metal in broader logistics sector push

Investment and consulting firm IBF & Company finalized its acquisition of a stake in industrial storage manufacturer Techno Metal for an undisclosed sum, according to a statement from IBF seen by EnterpriseAM. The agreement valued Techno Metal at roughly EGP 500 mn, sources close to the transaction told us.

The move is part of a wider expansion into the logistics sector, with IBF having recently acquired a 50% stake in cross-border trade platform Diatom CBT in December.

Lucky lands USD 23 mn in Series B round

Homegrown fintech firm Lucky secured USD 23 mn, coming through a mix of equity and debt in a Series B funding round, according to a statement (pdf) from the startup. The round saw participation from existing backers Disruptech Ventures and Nclude, alongside new strategic entries from Suez Canal Bank and OneStop. The company will use the proceeds to scale up its credit products and kick off its expansion into North Africa, alongside developing its backend and regulatory readiness to transition into a neo-banking-ready platform.

Madinet Masr launches Day 2 Night integrated complex

Developer Madinet Masr rolled out its first integrated commercial and administrative complex within its flagship Sarai development, the company said in a statement(pdf). The project — called Day 2 Night (D2N) — spans over 21.7k sqm and will feature a mix of office spaces, retail units, and medical clinics, alongside dining and fitness facilities.

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