Egyptian fintech startup Khazna has successfully raised $16 million in a pre-Series B funding round to bolster its financial services and expand into the Saudi Arabian market. This latest investment brings Khazna’s total funding to over $63 million.
The round saw participation from both existing and new investors, including SANAD Fund for MSME, anb Seed Fund, Aljazira Capital, Khwarizmi Ventures, Nclude, ICU Ventures, Quona Capital, Speedinvest, and Disruptech Ventures.
Established in 2020 by Omar Saleh, Ahmed Wagueeh, and Fatimah El Shenawy, Khazna began as an earned wage access platform.
The platform has evolved into a multi-product financial app, offering services such as general-purpose credit, buy now pay later (BNPL), and bill payments, targeting approximately 50% of Egyptians who are smartphone users but lack access to formal financial services.
Omar Saleh, Co-Founder and CEO of Khazna, stated, “This funding round is a testament to the dedication of Khazna’s team and our investors’ belief in our mission. As we expand into Saudi Arabia and strengthen our presence in Egypt, we remain committed to driving financial inclusion and delivering cutting-edge digital experiences across MENA.”
This investment underscores the growing confidence in fintech solutions that address the financial needs of underserved populations in the Middle East and North Africa.
Khazna plans to apply for a digital banking license, enabling it to accept customer deposits and offer more comprehensive financial services.
The company aims to enter the Saudi market, leveraging strategic partnerships to reach a broader customer base.
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