{"id":577176,"date":"2022-11-13T04:00:17","date_gmt":"2022-11-13T04:00:17","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2022\/11\/13\/blnk-lines-up-usd-32-mn-in-funding-including-debt-equity-and-proceeds-from-securitized-bond\/"},"modified":"2022-11-13T04:00:17","modified_gmt":"2022-11-13T04:00:17","slug":"blnk-lines-up-usd-32-mn-in-funding-including-debt-equity-and-proceeds-from-securitized-bond","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2022\/11\/13\/blnk-lines-up-usd-32-mn-in-funding-including-debt-equity-and-proceeds-from-securitized-bond\/","title":{"rendered":"Blnk lines up USD 32 mn in funding, including debt, equity and proceeds from securitized bond"},"content":{"rendered":"

<\/a> Fintech startup <\/strong>Blnk<\/a><\/strong> has lined up<\/strong> USD 32 mn in <\/strong>funding<\/strong>, the company said in a<\/a>statement<\/a> Thursday. The money includes USD 23.7 mn in equity and debt capital, as well as the USD 8.3 mn (EGP 202 mn) securitized bond issuance<\/a> that closed last week.<\/p>\n

Among the company\u2019s new investors: <\/strong>Abu Dhabi\u2019s Emirates International Investment<\/a>Company<\/a> (EIIC), Sawari Ventures<\/a>, as well as angel investors, invested USD 12.5 mn in a combined pre-seed and seed funding round, the company said.<\/p>\n

And the creditors?<\/strong> Blnk said a number of \u201cleading local banks\u201d lent it USD 11.2 mn, but didn\u2019t didn\u2019t disclose their identities. Banque du Caire and the National Bank of Egypt underwrote the securitized bond issuance.<\/p>\n

Where the money\u2019s going:<\/strong> The funding will be used to expand its lending portfolio and further develop its AI-powered lending platform, according to the statement.<\/p>\n

About Blnk: <\/strong>It\u2019s a digital AI-powered lending platform that allows merchants to approve and finance customers\u2019 purchases at the point of sale. It focuses primarily on \u201cthe unbanked and financially-underserved.\u201d The company says it has has made USD 20 mn in loans since its launch in fall 2021 \u2014 its CEO and co-founder is Amr Sultan, the former Beltone head of investment banking who went on to co-found Akanar, the advisory shop that Arqaam later acquired.<\/p>\n

The story is getting international coverage:<\/strong> Reuters<\/a> | Techcrunch<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

Fintech startup Blnk has lined up USD 32 mn in funding, the company said in astatement Thursday. The money includes USD 23.7 mn in equity and debt capital, as well as the USD 8.3 mn (EGP 202 mn) securitized bond issuance that closed last week. Among the company\u2019s new investors: Abu Dhabi\u2019s Emirates International InvestmentCompany […]<\/p>\n","protected":false},"author":1,"featured_media":577177,"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":[6370,72,290,183,95,123],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-577176","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-startup-watch","tag-blnk","tag-enterpriseam","tag-financial-inclusion","tag-fintech","tag-startup-watch","tag-startups","wpautop","entry"],"acf":{"mongo_id":"af5b4472-1548-496a-be16-8d6242a3c19f","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2022\/11\/201.jpg","photo_position":"above","related_issue":[577158],"teaser":"","voice_url":""},"yoast_head":"\nBlnk lines up USD 32 mn in funding, including debt, equity and proceeds from securitized bond - 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\/11\/13\/blnk-lines-up-usd-32-mn-in-funding-including-debt-equity-and-proceeds-from-securitized-bond\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Blnk lines up USD 32 mn in funding, including debt, equity and proceeds from securitized bond\" \/>\n<meta property=\"og:description\" content=\"Fintech startup Blnk has lined up USD 32 mn in funding, the company said in astatement Thursday. The money includes USD 23.7 mn in equity and debt capital, as well as the USD 8.3 mn (EGP 202 mn) securitized bond issuance that closed last week. 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Advisors:The National Bank of Egypt and Banque du Caire were co-underwriters. Matouk Bassiouny & Hennawy acted as counsel, while Baker\u2026","rel":"","context":"In "DEBT WATCH"","block_context":{"text":"DEBT WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/debt-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/11\/175.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":560757,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/03\/11\/fintech-startup-dayra-raises-usd-3-mn-in-pre-seed-funding-round\/","url_meta":{"origin":577176,"position":2},"title":"Fintech startup Dayra raises USD 3 mn in pre-seed funding round","author":"enterpriseam admin","date":"11 March 2021","format":false,"excerpt":"Egyptian fintech startup Dayra has closed a USD 3 mn pre-seed funding round that includes both equity and debt financing, according to a company press release (pdf). EFG EV Fintech, EFG Hermes, Tanmiya Capital Ventures and a number of angel investors all participated in the round, which closed after the\u2026","rel":"","context":"In "Startup watch"","block_context":{"text":"Startup watch","link":"https:\/\/enterpriseam.com\/egypt\/category\/companies\/startup-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/3\/171.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":546860,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/05\/31\/cairo-angels-syndicate-fund-invests-in-africa-focused-fintech\/","url_meta":{"origin":577176,"position":3},"title":"Cairo Angels Syndicate Fund invests in Africa-focused fintech","author":"enterpriseam admin","date":"31 May 2022","format":false,"excerpt":"Cairo Angels Syndicate Fund (CASF) is making a USD six-figure investment in Africa-focused fintech startup Finclusion Group, which uses AI to provide financial services products, according to a statement (pdf). This is CASF\u2019s second investment outside of Egypt and their third fintech investment, according to the release.About Finclusion: The startup\u2026","rel":"","context":"In "Startup watch"","block_context":{"text":"Startup watch","link":"https:\/\/enterpriseam.com\/egypt\/category\/companies\/startup-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/5\/416.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":545519,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/04\/03\/fintech-app-khazna-raises-usd-38-mn-in-series-a-funding\/","url_meta":{"origin":577176,"position":4},"title":"Fintech app Khazna raises USD 38 mn in series A funding","author":"enterpriseam admin","date":"3 April 2022","format":false,"excerpt":"Local fintech startup Khazna has raised USD 38 mn in equity and debt in a series A funding round, according to a press release (pdf). The round was led by US-based Quona Capital and includes previously announced funding from Nclude \u2014 the new USD 85 mn fintech fund launched by\u2026","rel":"","context":"In "Startup watch"","block_context":{"text":"Startup watch","link":"https:\/\/enterpriseam.com\/egypt\/category\/companies\/startup-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/4\/84.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":566394,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/06\/16\/liwwa-to-invest-portion-of-usd-3-mn-pre-series-funding-in-expanding-sme-business-in-egypt\/","url_meta":{"origin":577176,"position":5},"title":"Liwwa to invest portion of USD 3 mn pre-series funding in expanding SME business in Egypt","author":"enterpriseam admin","date":"16 June 2021","format":false,"excerpt":"Amman-based fintech startup Liwwa plans to raise USD 3 mn in pre-series B funding to expand its SME lending in Egypt and Jordan, CEO Dennis Ardis told Arabian Business. Part of the funds will go towards obtaining an SME lending license in Egypt, expanding the business, and growing the tech\u2026","rel":"","context":"In "SPEED ROUND: FINTECH"","block_context":{"text":"SPEED ROUND: FINTECH","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round-fintech\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/6\/512.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\/577176","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=577176"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/577176\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/577158"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/577177"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=577176"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=577176"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=577176"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=577176"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=577176"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}