Axian invests in Egyptian VC fund
Axian group has joined the Disruptech Egypt Fund I, a venture capital fund dedicated to supporting tech-enabled and fintech start-ups in Egypt.
Axian’s commitment to Disruptech underscores its strategy, which posits that advances in innovation and disruptive technologies can improve people’s day-to-day lives. This investment is fully-aligned with Axian group’s mandate to grow within the digital economy by promoting innovation-as-a-service to the communities it serves and by making new innovative solutions more accessible to the public. With Axian already present in several countries across Africa, the partnership with Disruptech will create a platform to identify synergies between its brands and start-ups in the Egyptian fintech and digital economy.
“We are thrilled with our partnership with Axian. Egypt is full of bright, talented founders but too often, they cannot secure the capital they need to expand their businesses. This fund is designed to change that and support the development of Egypt’s fintech/fintech-enabled sector,” said Mohamed Okasha, managing partner of Disruptech.
“The Egyptian economy is one of Africa’s fastest-growing markets. It bears witness to the talent and resilience that are so central to our spirit as Africans. Through this investment, Axian is voicing its support for businesses to push the boundaries of technology, to reinvent themselves or adapt today’s technology to what challenges the future may hold. This way, we can continue to build bridges for the sharing of skills and innovation that serve broader financial inclusion across Africa,” commented Hassanein Hiridjee, CEO of Axian group.