Bokra, a Cairo-based FinTech, has recently announced a successful $4.6m pre-seed funding round.
The round was led by DisrupTech Ventures and SS Capital, with additional backing from several other investors. This capital infusion is set to position Bokra as a pioneer in the WealthTech sector across the MENA region.
The company has successfully raised $4.6m, marking a significant milestone in its journey. This round of funding was led by DisrupTech Ventures and SS Capital, among others, who have shown great confidence in Bokra’s potential to transform the WealthTech landscape.
Founded by Ayman El-Sawy, a veteran with 21 years of experience in non-banking financial services and debt instruments, Bokra aims to democratise wealth management. The platform uniquely combines goal-based investment strategies with asset-backed securities, catering to both retail and SME investors.
With the new funds, Bokra plans to launch its application and expand its range of investment products. The focus will be on empowering users to save and invest through fractional ownership, making diverse asset classes more accessible and manageable through a user-friendly platform.
Additional information about the upcoming app indicates its launch in Q2 2024. Bokra promises a personalised and straightforward user journey. Users will complete a comprehensive questionnaire to tailor investment options to their risk appetite and financial goals, supported by innovative tools like ‘scenario playing’ and a detailed financial dashboard.
Commenting on the funding round, Ayman El-Sawy, Founder and CEO of Bokra, stated, “Since day one, we have been on a mission to make high-yield and asset-backed investment opportunities a reality to retail investors. These instruments are set to undergo financial structuring through our FRA-licensed subsidiary sukuk arm, in return igniting radical and substantial impact to individuals and SMEs.”
From his side, Mohamed Okasha, Founder and Managing Partner at DisrupTech Ventures, expressed his excitement for the round: “Bokra’s launch is perfectly timed, the demand for alternative investment solutions has reached unprecedented heights due to remarkable returns. With 67% of the population remaining unbanked, we deeply support Bokra’s mission of disrupting the industry by offering the first goal-based and asset backed securities products.”
“This strategic infusion of capital will empower Bokra to offer an unprecedented pack of offerings to users across the region. At SS Capital, we believe in supporting promising ventures with transformative potential, and we are confident that Bokra’s dedication to empowering youth through its financial products will create a lasting impact on wealth management in our part of the world,” stated Samer Sallam, Chairman of SS Capital.
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