Egyptian Fintech Bokra Raises $4.6 Million Pre-Seed Round to Expand Its Offerings Across MENA Region
Bokra, a fintech based in Egypt, has secured $4.6 million in a pre-seed funding round. The funds raised will be used to launch the Bokra app, diversify its investment product range, and expand operations across the MENA region.
The fintech company asserts that this development will transform wealth management in the MENA region by becoming the inaugural platform to offer goal-based investment and savings products through asset-backed securities.
Commenting on the successful closure of the pre-Seed round, Ayman El-Sawy, founder and CEO of Bokra said,
“Since day one, we have been on a mission to make high-yield and asset-backed investment opportunities a reality for retail investors. These instruments are set to undergo financial structuring through our FRA-licensed subsidiary sukuk arm, in return igniting radical and substantial impact on individuals and SMEs. Such disruption is made possible by our advanced fintech solutions and, more importantly, by our management team, which possesses accumulated expertise spanning up to 120 years in financial technology and the non-banking financial sector.
“We are dedicated to accelerating financial inclusion and elevating investment awareness across MENA. In a region where financial needs and aspirations are ever-changing, Bokra is poised to become the preferred investment platform for both individuals and SMEs looking to diversify their fractional ownership portfolio in a simple, trackable and informed way.”
Also speaking, Mohamed Okasha, Founder and Managing Partner at DisrupTech Ventures, said,
“Bokra’s launch is perfectly timed, the demand for alternative investment solutions has reached unprecedented heights due to remarkable returns. With 67% of the population remaining unbanked, we deeply support bokra’s mission of disrupting the industry by offering the first goal-based and asset backed securities products. Their innovative use of investment instruments, coupled with their best-in-class management team, poises bokra to impact the lives of millions of Egyptians.”
Founded in 2023, Bokra has served a wide range of financial goals, empowering retail and SME investors to save and invest across multiple asset classes.
The fintech addresses several challenges that retailers and SMEs face when attempting to manage their wealth, including a lack of personalised investment planning, fragmented applications for asset-class investments, opaque fee structures, and high-ticket physical assets.
