{"id":544606,"date":"2022-03-13T03:49:27","date_gmt":"2022-03-13T03:49:27","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2022\/03\/13\/disruptechs-final-usd-25-mn-close-due-next-week-bosta-enters-ksa\/"},"modified":"2022-03-13T03:49:27","modified_gmt":"2022-03-13T03:49:27","slug":"disruptechs-final-usd-25-mn-close-due-next-week-bosta-enters-ksa","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2022\/03\/13\/disruptechs-final-usd-25-mn-close-due-next-week-bosta-enters-ksa\/","title":{"rendered":"Disruptech\u2019s final USD 25 mn close due next week + Bosta enters KSA"},"content":{"rendered":"

<\/a> Fintech fund DisrupTech Ventures is expecting to reach the USD 25 mn final close <\/strong>of its fund next week<\/strong>, Managing Partner Mohamed Okasha told Enterprise, confirming a report from Al Mal<\/a>. The fund has already locked in substantial unrealized gains on initial investments it has already made, he said.<\/p>\n

DisrupTech is looking to invest 30% of the fund in eight companies during 2022<\/strong>, Okasha tells us. Some 25% of the fund was already deployed previously in seven startups, namely Brimore<\/a>, Khazna<\/a>, Fatura<\/a>, Cassbana<\/a>, MNT-Halan<\/a>, Mozare3<\/a>, and Gahez<\/a>. Earlier this month, Disruptech led a pre-seed investment round in Mumerz<\/a>.<\/p>\n

\n

Fintech startup <\/strong>Nexta<\/a><\/strong> is preparing to launch after raising USD 2.2 mn in pre-seed <\/strong>investment<\/strong>, the company said in a press release<\/a>. The funding round was led by DisrupTech and featured participation from undisclosed international investors The company said the funding will allow it to debut its payment services, having already met the Central Bank of Egypt\u2019s regulations. The funds will allow Nexta \u201cto launch its much anticipated digital banking solutions, as well as support its effort in expanding its market and continuing its strategic partnerships,\u201d Distruptech\u2019s Okasha said.<\/p>\n

About Nexta:<\/strong> Founded by Ibrahim Farag and Ahmed Hisham in 2021, Nexta is a payments company whose Visa cards \u201cwill aggregate the users\u2019 existing payment cards, allow for easy and reliable money transfer, and a multitude of other features to come,\u201d the company said.<\/p>\n

\n

Bosta has entered its first market outside Egypt:<\/strong> Logistics startup Bosta<\/a> has opened an office in Riyadh, marking its official launch in Saudi Arabia and its first expansion outside of Egypt, the company announced in a statement (pdf)<\/a>.<\/p>\n

The launch coincides with the closing of an undisclosed pre-Series B round<\/strong> led by Khwarizmi Ventures<\/a> and Hassan Allam Holding, the company said.<\/p>\n

More expansions to come? <\/strong>The Saudi office launch is part of Bosta\u2019s expansion plans across the Middle East and \u201cit will be followed by another launch in the region by the end of this year,\u201d said co-founder and CEO Mohamed Ezzat. Bosta has plans to expand into the UAE as well, Ezzat had said last year<\/a>, adding that the company is looking to enter seven new markets in the next five years, including Kuwait and several African countries.<\/p>\n","protected":false},"excerpt":{"rendered":"

Fintech fund DisrupTech Ventures is expecting to reach the USD 25 mn final close of its fund next week, Managing Partner Mohamed Okasha told Enterprise, confirming a report from Al Mal. The fund has already locked in substantial unrealized gains on initial investments it has already made, he said. DisrupTech is looking to invest 30% […]<\/p>\n","protected":false},"author":1,"featured_media":544607,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7258],"tags":[1344,1345,72,9624,1347,1346,95,200],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-544606","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-startup-watch","tag-bosta","tag-disruptech","tag-enterpriseam","tag-fintech-startup","tag-logistics-startup","tag-nexta","tag-startup-watch","tag-venture-capital","wpautop","entry"],"acf":{"mongo_id":"4008a269-1de9-4060-a62d-c56f0b99643b","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2022\/3\/146.jpg","photo_position":"above","related_issue":[544594],"teaser":"","voice_url":""},"yoast_head":"\nDisruptech\u2019s final USD 25 mn close due next week + Bosta enters KSA - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2022\/03\/13\/disruptechs-final-usd-25-mn-close-due-next-week-bosta-enters-ksa\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Disruptech\u2019s final USD 25 mn close due next week + Bosta enters KSA\" \/>\n<meta property=\"og:description\" content=\"Fintech fund DisrupTech Ventures is expecting to reach the USD 25 mn final close of its fund next week, Managing Partner Mohamed Okasha told Enterprise, confirming a report from Al Mal. 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The USD 25 mn fintech fund is also in negotiations with local and international banks and institutions to contribute to the\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":570920,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/04\/22\/disruptech-fintech-fund-makes-its-first-investment-in-two-egyptian-companies\/","url_meta":{"origin":544606,"position":3},"title":"Disruptech fintech fund makes its first investment in two Egyptian companies","author":"enterpriseam admin","date":"22 April 2020","format":false,"excerpt":"STARTUP WATCH- Disruptech makes its first investment in two Egyptian companies: Disruptech, a USD 25 mn fintech fund recently set up by Mohamed Okasha, a former top exec at fintech player Fawry, has made its first investment in two Egyptian startups, Khaznaand Brimore, according to Menabytes. The fund is investing\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":572854,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/07\/12\/fatura-raises-usd-1-mn-in-funding-round-led-by-disruptech\/","url_meta":{"origin":544606,"position":4},"title":"Fatura raises USD 1 mn in funding round led by Disruptech","author":"enterpriseam admin","date":"12 July 2020","format":false,"excerpt":"STARTUP WATCH- Egyptian e-payments platform Fatura has raised north of USD 1 mn in its first funding round led by Disruptech and with participation from EFG Hermes and Cairo Angels, the local press reports. Fatura CEO Hossam Ali said the company is well positioned to provide transparent pricing and delivery\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":587807,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/06\/01\/disruptech-to-invest-usd-5-mn-in-local-fintechs-this-year-plus-real-estate-in-new-cities-delayed-customs-clearance-fees\/","url_meta":{"origin":544606,"position":5},"title":"Disruptech to invest USD 5 mn in local fintechs this year. PLUS: real estate in new cities, delayed customs clearance fees","author":"enterpriseam admin","date":"1 June 2023","format":false,"excerpt":"A number of international investors have committed funds to the VC\u2019s USD 36 mn fintech fund","rel":"","context":"In "Also on our Radar"","block_context":{"text":"Also on our Radar","link":"https:\/\/enterpriseam.com\/egypt\/category\/also-on-our-radar\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/6\/3.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/544606","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=544606"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/544606\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/544594"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/544607"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=544606"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=544606"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=544606"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=544606"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=544606"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}