Proparco, a French firm, invests $5 million in Egypt’s fintech sector

The French development finance organization Proparco has invested $5 million into an early-stage venture capital fund that DisrupTech Ventures runs. This is to help Egypt’s fintech sector grow and make it easier for people in the country to get financial services.

DisrupTech Ventures wants to give seed funding to up to 28 startups, with a main focus on those that offer services related to financial technology.

The fund received $36 million from several donors, such as family offices, development finance institutions, and funds-of-funds. DisrupTech Ventures will also help the businesses it backs by giving them advice and helping them grow.