Egyptian fintech startup MNZL has successfully secured a seed investment of $3.5 million to catalyze its expansion within the Middle East and Africa (MEA) region. The funding round drew support from a coalition of venture capital firms, including P1 Ventures, Localglobe, and Ingressive Capital, alongside others such as 500 Startups, Flat6Labs, First Circle Capital, ENZA Capital, Beenok, and several angel investors. MNZL aims to disrupt the traditional lending framework in Egypt and beyond by pioneering a digital platform that converts tangible assets like homes and cars into liquid capital for loans. Customers are able to upload their asset details into a digital wallet and quickly access cash resources. Having already demonstrated significant market impact, MNZL recognizes a growing demand for more inclusive and approachable credit options. With the fresh funding, the company plans to enhance its technological infrastructure and scale its services to empower a larger populace in accessing flexible financial solutions.

Financial Technology, Venture Capital,Egypt, Middle East and Africa (MEA)

https://www.zawya.com/en/business/fintech/egypts-fintech-start-up-mnzl-secures-35mln-s0kh3352