COREangels launches $10 million fund to support MEA startups
COREangels MEA, in partnership with PTS Holdings and the Arab Academy, has launched a $10 million investment fund targeting early-stage startups across the Middle East and Africa.
During its 5th Investment Committee in Cairo, the fund selected five standout fintech startups from over 1,000 applicants to receive up to $150,000 in funding each under theme 'Fintech as the Foundation for Inclusive Growth'. Selected startups include eMaisha Pay (Uganda), RentBeta (East Africa), Aqua Offers (Egypt), Monak (MENA), and Reeple (Nigeria).
Founded by Maha Mandour, the fund leverages a hybrid model combining global angel investors, local expertise, and an innovation studio to back tech startups aligned with the UN Sustainable Development Goals (SDGs).
Press release:
COREangels MEA launched its 5th Investment Committee, a three-day investment forum uniting global angel investors, regional partners, and local trailblazer founders from across the Middle East and Africa—from the Gulf to South Africa. This event marks a turning point in the regional innovation landscape, reflecting a growing commitment to aligning smart capital with purpose-driven innovation across the region.
Maha Mandour, Chairperson of PTS Holdings and Co-Founder of COREangels MEA, stated that the fund specialises in deploying venture capital into startups, with a total size of $10 million.
She highlighted that the fund focuses on supporting tech startups aligned with the Sustainable Development Goals (SDGs) through a hybrid model combining a global network of investors, local expertise, and an innovation studio that provides operational development services to support these companies' growth and expansion.
She highlighted that COREangels MEA offers investment support of up to $150,000, along with a comprehensive suite of advisory and technical services designed to help startups scale into new markets.
The fund operates under the umbrella of PTS Investments Holdings, a visionary investment group driving the development of sustainable ecosystems for startups. PTS focuses on building future-ready companies by aligning investment and venture services with the SDGs. The fund provides startup founders not only with capital but also with tools, technical as well as business strategic guidance and a powerful investor network—backed by Kemtix Ventures, the innovation and venture studio arm of the Group.
'We don't just inject funds—we believe in building comprehensive ecosystems. COREangels MEA brings capital, capability, and community support to the region's most promising founders,' said Maha Mandour, Chairperson of PTS Holdings and Founding Partner of COREangels MEA.
This year's Committee theme: Fintech as the foundation for inclusive growth
Fintech in MEA is projected to surpass $100 billion by 2028. COREangels MEA is channelling smart, impact-driven capital into startups building solutions in embedded finance, digital payments, inclusive lending, and financial access infrastructure across various fields of application.
From over 1,000 applications, five standout fintech startups were selected:
eMaisha Pay, based in Uganda, empowers farmers with access to savings tools, crop insurance, and microloans.
RentBeta, active across East Africa, enables flexible rent payments and automates landlord collection systems.
Aqua Offers, an Egypt-based platform, provides an intelligent, performance-based solution for loyalty programmes and instant savings.
Monak, serving migrant communities in MENA, offers bundled financial, health, and insurance services through a single platform.
Reeple, based in Nigeria, simplifies international payments for African freelancers and remote workers.
All these companies underwent a comprehensive operational and investment evaluation through Kemtix Ventures to ensure their readiness for growth and alignment with the fund's objectives and strategy.
The event was hosted by the Arab Academy for Science, Technology and Maritime Transport (AAST) Entrepreneurship Center under the leadership of Dr. Ismail Abdel Ghafar. The academy provided an ideal platform for collaboration and institutional empowerment support. During the event, the strategic partnership with PTS Holdings was strengthened to empower innovation across institutions—led by the innovation studio of Kemtix Ventures.
An MOU was signed between the two partners to join efforts in supporting young innovators, especially in the early stages of their entrepreneurial journey.
The Committee welcomed a distinguished delegation of visionary leaders, fund managers, and change makers in investment fields from across the region—including Nigeria, Saudi Arabia, South Africa, Jordan, and the United Arab Emirates. This reflects a shared regional commitment to building a cross-border investment ecosystem focused on impact.
Among the event's special guests was Rui Falcão, President of COREangels International, whose visit underscores the global importance of connecting frontier innovation in MEA with smart capital.
'COREangels MEA is more than a fund—It is a trusted and secure bridge connecting regional innovation with smart, sustainable global investment opportunities,' said Rui.
The committee concluded with interactive panel discussions, hands-on training workshops, and personalised meetings with founders, complemented by cultural experiences that fostered deeper connections among attendees and anchored investment within the rich tapestry of local identity. At COREangels MEA, we believe that true investment transcends capital—it's about forging partnerships that generate meaningful value and enduring impact.
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