Egypt’s Flend Raises $3 Million Seed to Fuel Digital SME Lending Expansion
Egyptian fintech startup Flend has successfully secured $3 million in seed funding, combining equity and debt, to expand its digital lending platform for small and medium-sized enterprises (SMEs) in Egypt. This investment marks a significant step in addressing the substantial SME financing gap within the country.
Powering SME Growth Through Digital Finance
The equity portion of the seed round was spearheaded by Egypt Ventures, drawing participation from Camel Ventures, Sukna Ventures, Plus VC, Banque Misr, and notable family offices including El Sewedy and Baalbaki. Debt financing was secured from the Micro, Small and Medium Enterprise Development Agency (MSMEDA) and various local banks. Flend, founded by Ahmed Zaki, Nehal Helmy, and Saif Edeen El Bendari, operates as a Financial Regulatory Authority (FRA)-licensed Digital Non-Banking Financial Institution (NBFI). The company provides fully digital, short-term working capital loans to SMEs by integrating directly with over 20 supply chain platforms across key sectors such as agri-food, e-commerce, and healthcare.
This new capital injection will empower Flend to achieve its ambitious goal of disbursing EGP 1 billion in SME loans within the next year. Furthermore, the funding will be used to strengthen the company’s team, forge new strategic partnerships, and bolster its technological infrastructure. By streamlining access to finance, Flend aims to significantly reduce Egypt’s $50 billion SME financing deficit, fostering growth and innovation within the sector.
Keywords
Related Keywords: Flend, Egypt, SME financing, digital lending, fintech, seed funding, venture capital, startup funding, Egypt fintech, African fintech
