Finclusion Group, the South African fintech startup, has secured undisclosed funding from The Cairo Angels Syndicate Fund (CASF), a micro venture capital fund that invests in early-stage startups in the Middle East and Africa.
Finclusion Group is an African-focused fintech platform building out a full neo bank offering for its users. It provides earned-wage access, BNPL and direct credit across South Africa, Eswatini & Namibia in Southern Africa, and Kenya & Tanzania in East Africa.
Finclusion uses advanced proprietary artificial intelligence (AI) algorithms alongside pioneering technology to grant safe financial services, all while maintaining accurate automated credit decisions.
“Finclusion Group is exceptionally pleased to have the Cairo Angels Syndicate Fund join its shareholder base. With CASF, the Group continues building out its shareholder base with aligned investors – and has secured a strong partner for potential future geographic expansion.
“Being the CASF’s second investment recipient outside of Egypt, in our view, speaks volumes as to the progress we have made recently,” stated Timothy Nuy, Co-Founder and Co-CEO, Finclusion Group.
“Our mission is to invest and support incredible founders building digital platforms to solve essential problems. That is exactly why we decided to invest in Finclusion Group, which is delivering compelling solutions to underserved consumers who have historically had little or no access to credit. This represents the fund’s second investment in Africa outside of Egypt and our third Fintech investment so far,” said Aly El Shalakany, CEO of the Cairo Angels Syndicate Fund.