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Home Funding

Bokra, an Egyptian fintech, has raised $4.6 million in a seed round of funding

Tech Gist Africa by Tech Gist Africa
05/04/2024
in Funding, Middle East and Africa, News - Middle East And North Africa
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Bokra Egypt

Bokra Egypt

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Bokra, a fintech company based in Cairo, has successfully closed a $4.6 million pre-seed funding round led by DisrupTech Ventures and SS Capital, along with other investors.

As the first platform in the MENA region to offer goal-based investment and saving products through asset-backed securities, Bokra is poised to revolutionize wealth management in the region.

Ayman El-Sawy, a seasoned industry veteran with 21 years of experience in non-banking financial services and debt instruments, founded Bokra with the goal of democratising wealth management.

Bokra will support a range of financial objectives and enable retail and SME investors to easily save and invest across a variety of asset classes.

To help merchants and SMEs manage their wealth, Bokra’s team is addressing several issues, such as the absence of individualized investment planning, fragmented asset-class investment applications, opaque fee structures, and expensive physical assets.

Understanding these problems, the Bokra app provides balanced, individualized financial and investment planning across a range of asset classes. It is the first of its kind to be based on asset-backed securities. offering partial ownership of a variety of items, enabling consumers to manage and increase their money.

Commenting on the successful closure of the pre-Seed round, Ayman El-Sawy, founder and CEO of Bokra, stated: “Since day one, we have been on a mission to make high-yield and asset-backed investment opportunities a reality for retail investors. These instruments are set to undergo financial structuring through our FRA-licensed subsidiary sukuk arm, in return igniting radical and substantial impact on individuals and SMEs. Such disruption is made possible by our advanced fintech solutions and, more importantly, by our management team, which possesses accumulated expertise spanning up to 120 years in financial technology and the non-banking financial sector. We are dedicated to accelerating financial inclusion and elevating investment awareness across MENA. 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.”

Owing to its Q2 2024 launch, Bokra’s user journey strives to be straightforward and personalized. Users will ascertain their monthly contribution amount, investment tenor, and risk appetite by responding to an extensive questionnaire. They are matched with a portfolio comprising a variety of instruments that are in line with their objectives based on the results. The Bokra app also has a dashboard to help users consistently monitor and stay on top of their financial goals, as well as scenario playing that lets users gauge the returns on their monthly donations.

The funding will go towards launching the Bokra app, increasing the selection of financial products, and expanding operations throughout the Middle East and North Africa, extending support for Bokra’s initiatives to increase investment literacy and foster a culture of wise investing to meet a range of financial objectives and desires.

 

Read more on Tech Gist Africa:

Bluworks, an Egyptian HR tech startup, has raised $1 million in a pre-seed funding round

Sprints, an Egyptian ed-tech platform powered by AI, has raised $3 million in a bridge round of funding

30Med, an Egyptian B2B e-health startup, has raised funding in a pre-seed round

 

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