Nclude

Nclude is a venture capital firm established in 2022 and based in Cairo, Egypt. The firm focuses on fostering fintech innovation and promoting financial inclusion by partnering with leading fintech and fintech-enabled companies. Nclude primarily invests in early and growth-stage startups located in Egypt, as well as those within the broader Middle East and Africa region. Through its strategic investments, Nclude aims to support the development of the fintech landscape in these markets.

Eslam Darwish

Founding General Partner

Omar Kholy

Associate

Past deals in Africa

Khazna

Series B in 2025
Khazna operates a mobile application platform designed to enhance financial services for Egyptians, particularly targeting the 50% of smartphone users who lack access to formal financial systems. The super app provides a range of services including General Purpose Credit, Buy Now Pay Later (BNPL), bill payments, savings, and insurance. It also facilitates cash advances for employees to address unforeseen emergencies and allows users to transfer and receive funds without incurring transaction fees. By focusing on digitizing cash transactions, Khazna aims to offer convenient, effective, and secure financial solutions, thereby improving financial inclusion in Egypt and potentially beyond.

Paymob

Series B in 2024
Paymob is a digital payments enabler based in Cairo, Egypt, founded in 2015. The company focuses on building payment infrastructure technologies that enhance financial inclusion in the Middle East and Africa (MEA) region. By providing integrated payment services, Paymob helps businesses of all sizes transition from cash to electronic payments, thereby unlocking new opportunities and efficiencies. Its software aims to minimize the risks associated with fraud and theft while speeding up money circulation. By empowering underserved communities with access to a variety of electronic payment and money transfer options, Paymob plays a crucial role in bridging the financial inclusion gap in the region.

Grinta

Seed Round in 2022
Grinta is a pharmaceutical supply chain company focused on modernizing the distribution of medical products across Africa. By operating a managed marketplace, Grinta integrates artificial intelligence and machine learning technologies to enhance the interactions between manufacturers, distributors, wholesalers, and independent pharmacies. This approach aims to create a data-driven and efficient supply chain that provides pharmacies with a user-friendly experience. Grinta's platform enables access to a comprehensive range of traceable and trackable pharmaceutical and medical products from various vendors, ultimately empowering local pharmacies to better serve their communities.

Paymob

Series B in 2022
Paymob is a digital payments enabler based in Cairo, Egypt, founded in 2015. The company focuses on building payment infrastructure technologies that enhance financial inclusion in the Middle East and Africa (MEA) region. By providing integrated payment services, Paymob helps businesses of all sizes transition from cash to electronic payments, thereby unlocking new opportunities and efficiencies. Its software aims to minimize the risks associated with fraud and theft while speeding up money circulation. By empowering underserved communities with access to a variety of electronic payment and money transfer options, Paymob plays a crucial role in bridging the financial inclusion gap in the region.

Khazna

Series A in 2022
Khazna operates a mobile application platform designed to enhance financial services for Egyptians, particularly targeting the 50% of smartphone users who lack access to formal financial systems. The super app provides a range of services including General Purpose Credit, Buy Now Pay Later (BNPL), bill payments, savings, and insurance. It also facilitates cash advances for employees to address unforeseen emergencies and allows users to transfer and receive funds without incurring transaction fees. By focusing on digitizing cash transactions, Khazna aims to offer convenient, effective, and secure financial solutions, thereby improving financial inclusion in Egypt and potentially beyond.
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