Egypt’s Blnk raises $37m debt, equity funding to deepen point of sale credit for consumers

Egyptian fintech Blnk has raised US$12.5 million in Series A equity alongside approximately US$24.6 million in local debt facilities to deepen point-of-sale consumer credit across Egypt. The combined package — roughly US$37 million — will be used to scale the AI-enabled digital consumer finance platform’s lending operations, expand merchant onboarding and widen access to finance for women and the underbanked.

“We’re proud to have secured the backing of some of the most respected investors in the region and beyond for this round of funding. Their continued belief in our mission is a powerful endorsement of what we’re building at Blnk. This new round of funding positions us to strengthen our profitability — expanding our reach, diversifying our offerings and doubling down on our commitment to unlocking financial access for millions of consumers in Egypt and beyond,” said Amr Sultan, CEO and co-founder of Blnk.

Context and investors

Founded in 2021, Blnk uses AI-driven underwriting to enable merchants to offer instant financing to customers at the point of sale. The Series A equity round was led by Algebra Ventures and saw participation from SANAD Fund for MSME, Endeavor Catalyst and Emirates International Investment Company (EIIC) — the Abu Dhabi-based investor that also backed Blnk’s seed round.

Debt financing was raised from a consortium of local banks and non-bank financial institutions. Notable bank participants include Suez Canal Bank, Bank Albaraka and the National Bank of Egypt. Non-bank participants named in the round include Corplease, Globalcorp and BM Lease, among others.

• Equity raised: US$12.5 million (Series A)
• Local debt facilities: US$24.6 million
• Customer onboarding since seed: over 1 million users
• Loan portfolio: surpassing EGP 1 billion (about US$19.25 million)

Since its seed round in November 2022, Blnk reports exponential growth: the company has onboarded more than one million customers and grown its loan portfolio past EGP 1 billion. Blnk’s technology focuses on rapid merchant onboarding and instant credit-underwriting so financing is available at the moment of purchase, a model aimed at improving financial inclusion for consumers who are unbanked or underbanked.

Karim Hussein, managing partner at Algebra Ventures, said he backed the company as it prepares to move into new verticals. “Blnk’s ability to serve the underserved, particularly unbanked and underbanked consumers, while maintaining disciplined credit management, positions them as a category-defining player in Egypt’s consumer finance space,” he said.

Outlook

Blnk intends to deploy the fresh capital to scale operations across Egypt with a specific emphasis on expanding access to credit for women and underserved segments. The company plans to offer more flexible loan sizes and broaden the range of products and services available through its merchant network. Management frames the round as both a growth and profitability play — using equity and debt in tandem to fuel expansion while reinforcing credit discipline as it enters additional verticals and increases penetration among the underbanked.