Flend Secures $3M Seed Funding to Boost Digital SME Lending in Egypt
Egyptian fintech startup Flend has successfully closed a US$3 million seed round, a significant milestone for the digital SME financing platform. The funding, a strategic mix of equity and debt, is earmarked to enhance Flend’s mission of resolving the systemic financial access issues faced by small and medium-sized enterprises across Egypt. By providing timely and dependable capital, Flend is positioning itself as a critical enabler of economic growth within the nation’s burgeoning tech ecosystem.
A Powerful Coalition of Investors
The funding round showcases strong confidence from a diverse group of regional backers. The equity investment was led by Egypt Ventures, with notable participation from Camel Ventures, Sukna Ventures, and Plus VC. Further strengthening the round, major institutions like Banque Misr and prominent regional family offices, including El Sewedy and Baalbaki, also contributed. The debt financing component was led by the Micro, Small, and Medium Enterprises Development Agency (MSMEDA) in collaboration with several local banking institutions, highlighting a robust public-private partnership.
According to Ahmed Zaki, the Co-Founder and CEO of Flend, this investment is a vote of confidence in their shared vision. He stated, “This funding enables us to meet SMEs where they are—integrated into the digital platforms they already use—delivering fast, fair, and flexible financing.” In just six months of operation, Flend has already demonstrated remarkable efficiency by digitizing the entire loan process, reducing approval times by an astounding 95%, and forging partnerships with over 20 embedded platforms in sectors like logistics and e-commerce.
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