The International Finance Corporation (IFC), a member of the World Bank Group, has invested a sum of USD5 million in the new venture capital fund (VC).
DisrupTech, a fintech venture capital firm based in Egypt, has secured a USD5 million investment for its latest venture capital fund from The International Finance Corporation (IFC), a member of the World Bank Group.
The investment will help bolster development in Egypt’s fintech sector as well as extend access to financial services in the country.
The new fund is set to offer seed capital to up to 25 startups, focusing on financial technology services.
The fund has secured USD25 million from a number of investors, seeking to become a main financing source for tech companies in Egypt.
