The Clap
E-finance’s (EFIH) board of directors (BoD) announced a couple of new investment ventures by the company.
The deets
E-finance is investing $10 million in “Nclude” a venture capital (VC) fund that focuses on long-term financial technology (FinTech) investments.
Claps Class
Venture capital is a type of financing that investors provide to startup companies & small to medium enterprises (SMEs) that are believed to have long-term growth potential.
Why this matters
With this move, E-finance joins other major investors in the VC fund including the National Bank of Egypt, Banque Misr, Banque du Caire, & Global Ventures. The fund’s size stands at $85 million, & has already made investments in startups including Khazna, Lucky, Paymob, & Mozare3.
That’s not all
E-finance also announced its contribution in purchasing & building a piece of land in the New Administrative Capital but hasn’t provided any further details.
