Egyptian digital banking startup Telda has raised funding from Sequoia Capital. The $5 million pre-seed round is Sequoia's first investment in North Africa. The funding round, which included German VC Global Founders Capital and US-based Class 5 Global, is Sequoia's first investment in a North African startup. Telda is a digital banking app which allows users to withdraw money from ATMs, send and receive funds, and make payments online. Both countries boast a large, young, talented and tech savvy population with a strong appetite to innovate," said Sequoia Partner George Robson.

Source: The North Africa Journal May 17, 2021 12:00 UTC