Dealflow | January 7, 2021

Investors back small business inventory financing in Pakistan and Egypt

Jessica Pothering
ImpactAlpha Editor

Jessica Pothering

ImpactAlpha, January 4 – Emerging market tech startups that are supporting the digitization of micro and small businesses are helping lead the COVID recovery. The latest examples:

Lahore-based Finja, which partners with banks to offer credit to small groceries and other micro-businesses, raised $9 million in Series A financing from BeeNext, Vostok Emerging Finance, Quona Capital and Gray MacKenzie Engineering Services.

Cairo-based Cassbana launched its alt-credit scoring system last year to help unbanked micro-businesses secure inventory financing and build a pathway to mainstream financial services. The company raised $1 million from Egyptian fintech-focused venture capital firm Disruptech.