Egyptian fintech startup MNZL has raised $3.5 million in seed funding from prominent investors like P1 Ventures, Ingressive Capital, and LocalGlobe. Their unique approach, leveraging tangible assets for secure lending, attracted support from key players in the industry.
MNZL aims to revolutionize lending not only in Egypt but across Africa by providing a platform where users can turn their assets, like homes and cars, into cash through a digital wallet. This innovative concept addresses the lack of secured lending options in Africa, offering inclusive and accessible credit solutions. MNZL has already obtained necessary permits from the Financial Regulatory Authority of Egypt and is witnessing promising early traction in the market.
CEO Sameh Saleh, previously successful with Hawaya, emphasizes MNZL’s mission to empower families and contribute to economic prosperity. With experienced co-founders and strong investor backing, MNZL is poised to drive financial inclusion and reshape the financial landscape in Egypt and beyond.
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