Egyptian fintech startup Bokra raised $4.6 million in a pre-seed funding round led by DisrupTech Ventures, SS Capital, and other investors. The funds will be used to expand investment products and develop the company’s technological infrastructure.
Bokra also plans to allocate part of the funding to launch its flagship application named after the company, “Bokra.” Expected to be launched in the second quarter of 2024, the app will provide a simple platform that enables investors to trade effectively by setting risk levels and investment amounts. The app also features a “scenario playing” function that allows investors to measure the annual return on their investments and regularly track and monitor their financial goals.
Bokra’s founder, Ayman El-Sawy, expressed optimism about the company’s future: “From the first day of our operations, our vision has been to empower investors to make direct investments and benefit from the exceptional returns of investment tools backed by high-credit quality assets. We are confident that we will radically change the structure of financial and investment products to meet our investors’ needs.”
Mohamed Akasha, founder and managing partner at DisrupTech Ventures, expressed his pleasure with the round’s success and emphasized the perfect timing of Bokra’s launch, noting the increasing demand for alternative investment solutions. He added, “Considering that 67% of the population in Egypt do not have bank accounts, we strongly support Bokra’s mission to radically transform the industry by offering the first goal-based, asset-backed securities products.”
Samer Salam, Chairman of SS Capital, discussed the strategic partnership with Bokra and pointed out that this collaboration would enable the company to offer innovative investment products to individuals and businesses in the region. He expressed enthusiasm about witnessing Bokra’s growth and success journey.
With these ambitious steps, Bokra aims to enhance its position as a leader in the financial technology field in the region, contributing to raising investment awareness, promoting the culture of investment, and thus achieving financial inclusion in the Middle East and North Africa.
