The announcement comes ahead of what DFin sees as a huge year for the fintech sector in Egypt.
Aiming to build and finance Egypt's next generation of fintech services, Digital Finance Holding (DFin Holding) has announced the launch of a new first-of-its-kind platform of services from across a host of subsidiaries and affiliated startups.
The subsidiary companies thus far include digital financing platform solution, Shekra, robo-advisory and digital wealth management startup, Optofolio. Among the affiliated startups are fintech supply chain financing platform, CAYESH, and fintech cloud platform, Paynas.
One of the most interesting aspects of the announcement, however, comes in the form of another subsidiary, Camel Ventures - the first ever venture debt-focused fund in MENA. Currently raising funds, Camel ventures is expected to launch inside the first quarter of 2021.
“Through Camel Ventures, we aim to complement the ecosystem of venture capital players by providing new financing options that address the actual capital needs of startups, thus helping them flourish while strengthening their current shareholder structure,” said Dr. Shehab Marzban, CEO and Founder of DFin Holding. “This newly introduced vehicle also provides an attractive and favourable investment product for potential investors such as financial institutions, banks and family offices.”
There are few names in Egypt that are better positioned to empower the sector. In its goal to achieve financial inclusion, to transition to a cashless society and promote efficient and agile financial transactions across ecosystem stakeholders, DFin is looking to build on what it sees as positive movements made by Central Bank of Egypt (CBE) and the Egyptian Financial Regulatory Authority (FRA).
With a multidisciplinary team boasting local, regional and international expertise, the announcement comes at an opportune time, as Egypt’s fintech sector continues to evolve.
“Fintech has become a clear cornerstone for economic growth and financial inclusion that is crosscutting across various sectors and industries,” said Chairman of DFin Holding, Dr. Khaled Hegazy. “Based on the tremendous untapped market size and the pool of tech-savvy and innovative talent residing in Egypt, DFin is developing the appropriate and efficient infrastructure that enables the platform to grow as a fintech powerhouse in the region, and represents a clear growth opportunity with a positive societal impact.”
Learn more about DFin Holding here.
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