4 months ago

Khazna Nets $16M for Saudi Expansion and Digital Banking Push

  • Khazna, an Egypt-based fintech, raised $16 million in a pre-Series B round to expand into Saudi Arabia and apply for a digital banking license in Egypt

  • Led by Quona and Speedinvest, the funding will support its focus on payroll-backed lending and financial inclusion for low-income workers

  • With 500,000 users, Khazna aims to tap into the Egyptian diaspora in Saudi and targets an IPO on the Tadawul exchange.

      • ProblemFinancial Services

      "Low- and middle-income workers in Egypt and Saudi Arabia lack access to affordable and convenient financial services like salary advances, microloans, and digital payments."

      Solution

      "Khazna provides payroll-backed lending, pension-based credit, and earned wage access (EWA) to low- and middle-income workers, offering them financial flexibility and improved access to credit."

      Covered on