Khazna, an Egypt-based startup that extends mobile financial services to the underbanked, has raised an undisclosed amount of seed funding from a group of investors led by Algebra Ventures, a venture capital firm in Egypt. Accion Venture Lab, Accion’s seed-stage inclusive fintech investment initiative, has also participated in the round, marking its first investment in Egypt.

Khazna was founded in 2019 to provide mobile financial services to over 20 million underbanked Egyptians ...