The round includes $15 million in fresh capital and $3.5 million that came as its first tranche in July 2020
Algebra stated that the $90 million fund is aiming for a first close in Q3 2021, however has not disclosed when it will begin drawing on the fund
“FinTech services in Egypt has flourished during COVID-19” wrote the infographic
University students presented projects that met the current demands and needs of the Egyptian banking and financial market
The announcement comes after MCIT’s ITIDA announced three licenses are up for grabs for e-signature and timestamp services in a step towards a more digital economy less than a month ago
