Hi, welcome to Tech This Evening, an After-Work Tech Newsletter from Techparley Africa. Sure, there is a lot to unpack right now. Sit back, while I walk you through.
Top Story: Egypt’s Blnk Raises $37.1M to Expand Financial Inclusion, Targeting Millions of Underserved Customers
The funding package comprises US$12.5 million in Series A equity financing and US$24.6 million in local debt facilities, positioning the company for its next phase of growth as it seeks to deepen financial inclusion across Egypt and potentially beyond.
The latest investment comes as Blnk continues to record remarkable growth in the country’s consumer finance sector, having already onboarded more than one million customers and built a loan portfolio exceeding EGP1 billion (US$19.25 million).
Commenting on the funding milestone, Blnk Chief Executive Officer and Co-founder Amr Sultan expressed optimism about the company’s future trajectory.
“We’re proud to have secured the backing of some of the most respected investors in the region and beyond for this round of funding. Their continued belief in our mission is a powerful endorsement of what we’re building at Blnk,” Sultan said.
Yakub Abdulrasheed brings you all the details. Read it here
Other Tech News Stories You Should Read:
BizFlex Africa Secures CBN IMTO Licence, Strengthening Nigeria’s Transborder Payments Ecosystem. Read it here
Aions Ventures Launches $6.1M Seed Fund to Help South African Startups Scale Beyond Early Growth. Read now.
Top 10 Job Searching Platforms for Prompt Engineers in Nigeria: Your Gateway to the AI Revolution. Read now.
On Startup News:
How Monica Cash is Simplifying Digital Finance for Nigerians Across Countries
Monica’s platform allows users to convert cryptocurrencies including Bitcoin (BTC), USDT, Ethereum (ETH), Solana (SOL), BNB, USDC, and TRX directly into Nigerian naira and receive payouts in their bank accounts with minimal friction.
According to the company, it has grown to more than 500,000 registered users, processed over N400 billion in transaction volume, and maintained zero reported security breaches.
Beyond facilitating crypto-to-naira transactions, Monica Cash is steadily evolving into a broader digital finance platform designed to make cryptocurrencies practical for everyday use.
“Our differentiation comes from speed of settlement, transparent pricing, automated conversion infrastructure, and the integration of everyday payment services alongside crypto transactions,” said Chinazam Umezinwa, the company’s Chief Operating Officer.
Yakub Abdulrasheed brings you all the details. Read here
Also Read:
Vertiv Leads GCC Alliance to Accelerate and Build AI-Ready Data Centre Infrastructures
Quadri Adejumo brings us the details, here.
Quote of the Day:
“Any sufficiently advanced technology is equivalent to magic.” – Arthur C. Clarke.
Thank you for joining me yet again this evening. Stay safe, and see you tomorrow for the next tech newsletter.
Best, Yakub.
