Egyptian FinTech bokra raises $4.6m pre-seed round

By Delisha Fernandes

bokra, a Cairo-based FinTech, has announced the closure of its $4.6 million pre-seed round led by DisrupTech Ventures and SS Capital alongside other investors.

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. Such disruption is made possible by our advanced fintech solutions, and more importantly, our management team, which possesses accumulated expertise of up to 120 years in financial technology and the non-banking financial sector.”

bokra app offers personalised and balanced financial and investment planning across different asset classes, which is built for the first time upon asset-backed securities. Empowering users to manage and grow their wealth through fractional ownership of diverse products.

Mohamed Okasha, Founder and Managing Partner at DisrupTech Ventures, said, “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. Their innovative use of investment instruments, coupled with their best-in-class management team, poises bokra to impact the lives of millions of Egyptians.”

Due to launch in Q2 2024, the user journey of bokra aims to be personal and simple. After answering a comprehensive questionnaire, users will determine their risk appetite, investment tenor, and monthly contribution amount. Based on the output, they are matched with a portfolio containing a mix of instruments that align with their goals. The bokra app also features ‘scenario playing’, allowing users to measure the yields of their monthly contributions, as well as a dashboard to systematically track and remain on top of their financial goals.

The funds will be utilised to launch the bokra app, expand the range of investment products, and geographically scale operations across MENA. Further supporting bokra’s efforts towards raising investment awareness and promoting a culture of smart investing to cater to various financial goals and aspirations.