Egypt’s fintech landscape is evolving rapidly, and Khazna is leading the charge. Founded in 2019, the startup has been bridging the financial gap for low and middle-income workers by providing essential services like salary advances, microloans, and digital payments. Now, with a fresh $16 million in pre-Series B funding, the company is gearing up for expansion into Saudi Arabia and a future as a digital bank.
This latest funding round brings Khazna’s total investment to over $63 million, reinforcing its mission to serve the financially underserved. The company has grown significantly since its pre-Series A round in 2022 when it had 150,000 users. Today, that number has soared to over 500,000, with 100,000 of them receiving payroll directly through Khazna’s platform.
What we did over the last two and a half years was to focus on our core product, which is credit offering to payroll and pension recipients and also unsecured loans to gig workers,” said co-founder and CEO Omar Saleh. He added that this focus helped the company achieve profitability last month.
Khazna’s recent funding success comes after a period of economic instability in Egypt, which saw currency devaluations and cautious investor sentiment. However, renewed foreign direct investment exceeding $50 billion in 2024 has reignited interest in the country’s startup ecosystem.
The company’s latest investment round saw participation from both global and regional backers, including Quona, Speedinvest, SANAD Fund for MSME, and several Middle Eastern and Turkish financial institutions. With this backing, Khazna is set to strengthen its foothold in Egypt while advancing its ambitions in Saudi Arabia.
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