Egyptian fintech startup MNZL has raised US$3.5 million in seed funding to enhance its technology and scale operations to empower more Egyptians. Founded in 2023 by Sameh Saleh, Ahmed Eldessouky and Bassem El Shaer, MNZL allows users to transform their assets like homes and cars into liquidity for their projects and needs. This shift not only empowers families by providing financial leverage but also contributes to broader economic prosperity in the region,” Saleh said. MNZL has now raised a US$3.5 million seed round of funding, led by P1 Ventures, Localglobe, and Ingressive Capital, with additional support from 500 Global, Flat6Labs, First Circle Capital, Enza Capital, Beenok, and other angel investors. “We are thrilled to support Sameh and the MNZL team as they build a transformative platform.

Source: The North Africa Journal May 14, 2024 12:43 UTC