Payment startup, MasterCard, has invested in Egypt’s investment platform, Nclude to help boost financial inclusion in Egypt.
This strategic investment in Nclude will support early and growth stage fintech to grow their operations and services.
Mastercard’s Purpose
According to Mastercard, it is committed to supporting the government’s efforts to transform Egypt into a digital and financially inclusive society via technology.
Speaking on the investment, Division President, Middle East, and North Africa at Mastercard, Khalid Elgibali said,
“Our contribution to Nclude stems from our longstanding commitment to accelerate the country’s digital transformation, drive financial inclusion rates and to reinforce Egypt’s position as an innovation hub for the fintech industry in the wider region.”
Nclude’s Response
In response, Nclude said it is very elated to work with Mastercard. This will help provide ambitious founders with the tools they need to succeed at every level.
Also speaking on the investment, founding general partner at Nclude, Eslam Darwish said,
“Having Mastercard in Nclude is definitely a milestone for us. This fund will enable us to further support entrepreneurs in Egypt’s vibrant startup ecosystem who are driving fintech innovation and helping transform the country into a digital and financially inclusive economy.
About Nclude
Nclude was launched in March 2022. Upon approval by the Central Bank of Egypt (CBE), it has already attracted $ 100 million investment from 3 national banks. They are Banque Misr, National Bank of Egypt and Banque Du Caire.
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