Cairo-based fintech startup Bokra has closed a USD 4.6 mn pre-seed round led by Egypt’s DisrupTech Ventures, with participation from SS Capital and other undisclosed investors, the startup said in a press release (pdf).

Where is the money going? The funds will help the startup launch its Bokra app — an app that offers custom-tailored investment plans across several types of security-backed assets — and expand its investment products portfolio. The funds will also be utilized to upscale Bokra’s operations across the MENA region.

About Bokra: Founded in 2023, Bokra is a home-grown fintech startup that aims to simplify goal-based investing in asset-backed securities for retail and SME investors. Set to launch in 2Q 2024, Bokra's app will match users with a tailored investment portfolio after assessing their risk tolerance and financial objectives. The platform provides tools for tracking progress towards investment goals.

What they said: “In a region where financial needs and aspirations are ever changing, Bokra is poised to become the preferred investment platform for both individuals and SMEs looking to diversify their fractional ownership portfolio in a simple, trackable and informed way," the company’s founder and CEO Ayman Elsawy (LinkedIn) said.

ANOTHER LOCAL FINTECH STARTUP RAISES 7-FIGURE SEED ROUND-

Value Makers Studio (VMS) led a seven-figure seed funding round for Egypt-based coupon app Waffarha, according to a press release. There’s no publicly available information about the funding structure, the of the stake accumulated by VMS, or clarity on the currency of the seven-figure raise. Egypt’s fintech giant Fawry holds a 30% stake in Waffarha.

This strategic partnership plays well into Waffarha’s plan to expand into the Saudi market, get a grip on the customer persona of the Saudi consumers while targeting them with appealing marketing campaigns.

Use of proceeds: The funds are earmarked to finance the company’s expansion strategy including in the kingdom, along with growing its team and enhancing its tech offering.

Waffarha finds cheaper offers for products and services in multiple sectors including F&B, entertainment, health & beauty, and hospitality through its network of 1k merchants and 3k stores. Waffarha also has a B2B segment that offers white-label loyalty solutions to partners and vendors.

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