Mastercard has announced a strategic investment in Nclude, a FinTech-focused VC investment platform launched in partnership with Egypt’s leading national banks – Banque Misr, National Bank of Egypt and Banque Du Caire – to further boost Egypt’s vibrant FinTech ecosystem and support the country’s Digital Transformation journey.
The partnership will deepen financial inclusion across Egypt by investing in promising early-and-growth-stage FinTech and FinTech-enabled companies.
The announcement builds on Mastercard’s commitment to supporting the government’s efforts and favourable regulations aimed at transforming Egypt into a digital, financially inclusive society by harnessing the power of technology.
“Our contribution to Nclude stems from our longstanding commitment to accelerate the country’s Digital Transformation, drive financial inclusion rates and to reinforce Egypt’s position as an innovation hub for the FinTech industry in the wider region,” said Khalid Elgibali, Division President, Middle East and North Africa at Mastercard. “We see a new door for opportunity in our collaboration with Nclude fund, where Egyptian FinTechs can be offered an enabling environment to achieve their full potential.”
With Mastercard, a pioneer in advancing financial inclusion in Egypt and the world, joining in, Nclude Fund is quickly becoming a go-to fund for FinTechs looking to grow their operations and services.
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