Latest news with #DPIVentureCapital
CairoScene
20-05-2025
- Automotive
- CairoScene
Sylndr Raises $15.7 Million to Expand Its Used Car Platform in Egypt
Sylndr secures fresh funding to scale operations, enhance services, and expand digital mobility solutions across Egypt. May 20, 2025 Sylndr, an Egyptian e-commerce platform specialising in used cars, has secured $15.7 million in Series A funding to support its nationwide expansion and the development of new automotive services. The company, founded in November 2021, looks to position itself as a transparent and reliable solution for car buying and selling in Egypt's rapidly evolving mobility sector. The Series A round was led by DPI Venture Capital through the Nclude Fund, with participation from a group of regional and international investors including Algebra Ventures, Nuwa Capital, Raed Ventures, Uncovered Fund, Beltone Venture Capital, and Camel Ventures. This new injection of capital follows earlier rounds that included $12.6 million in pre-seed funding in May 2022 and $7.45 million in working capital raised in November 2023. In 2025, the company introduced three new verticals: Sylndr Swift, a digital auto financing service; Sylndr Plus, which offers vehicle services; and Al-Ajans, a growth programme targeting car dealers. These new offerings are designed to diversify Sylndr's reach and deepen its impact on the automotive market. With the latest investment, Sylndr plans to extend its operations to all major governorates across Egypt. The expansion strategy includes a strong focus on enhancing technological capabilities, boosting innovation, and strengthening partnerships with dealers, financial institutions, and service providers.
Zawya
06-05-2025
- Business
- Zawya
Egypt: Money Fellows secure $13mln funding to boost financial inclusion in Africa
Arab Finance: Cairo-based fintech digital platform Money Fellows raised $13 million in a new financing round to boost financial inclusion and enable millions of individuals to access innovative and efficient financial services, according to an emailed press release. This fundraising brings the total amount invested in the company to more than $60 million since its inception. The company will use the new investment, which was co-led by Al Mada Ventures (AMV) and DPI Venture Capital via the Nclude Fund, to improve and upgrade its digital platform. Partech and CommerzVentures also participated in the transaction to drive innovation across emerging markets. The finetch has over 350 local and regional partners, with more than 8.5 million registered users registered within its platform. Additionally, the funding round aligns with the company's growth plans to expand into new markets and drive a major shift in traditional methods of saving, borrowing, and investing. On his part, Ahmed Wadi, Founder and CEO of Money Fellows, commented: 'Money Fellows is a critical player in Africa's financial ecosystem, combining the power of community-based savings with cutting-edge fintech to create a seamless and scalable solution.' 'This investment is a testament to the potential we have to further our mission of empowering individuals, especially in underserved regions, to save, invest, and access credit in a cost-effective and impactful way,' Wadi highlighted. Mohamed Aladdin, General Partner at DPI Venture Capital, commented: 'We are excited to partner with such a visionary company on a mission to enable seamless access to financial management tools to consumers in Egypt, and look forward to seeing them expand their impact across the Middle East and Africa.' © 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (
Zawya
05-05-2025
- Business
- Zawya
Money Fellows raises $13mln in strategic funding to enhance financial inclusion in Africa
Cairo – Money Fellows, Africa's leading fintech digital platform, has successfully raised $13 million in this new financing round. This strategic extension brings the total amount invested in the company to over $60 million USD since its inception. The new investment aims to enhance and upgrade the company's digital platform, especially as its user base expands to over 8.5 million users and it continues to collaborate with more than 350 local and regional partners. This new round of investment is co-led by Al Mada Ventures (AMV) and DPI Venture Capital via the Nclude Fund, with notable contributions from Partech, and CommerzVentures, all of which are dedicated to driving innovation across emerging markets. This investment is set to support the company's expansion into new markets and drive a major shift in traditional methods of saving, borrowing, and investing by digitizing these services and delivering them in a modern, secure way. The goal is to advance financial inclusion and enable millions of individuals to access innovative and efficient financial services. 'Money Fellows is a critical player in Africa's financial ecosystem, combining the power of community-based savings with cutting-edge fintech to create a seamless and scalable solution,' said Ahmed Wadi, Founder and CEO of Money Fellows. 'This investment is a testament to the potential we have to further our mission of empowering individuals, especially in underserved regions, to save, invest, and access credit in a cost-effective and impactful way.' 'ROSCA's (Rotating Savings and Credit Association) are very old financial arangements, with roots going back hundreds, if not thousands of years.' said Omar Laalej, Managing Director at AMV. 'AMV was impressed by the modernized version of this business that Money Fellows was able to build, positively impacting thousands of families in Egypt. We are excited to partner up with the team as they expand their horizon and capabilities. 'DPI believes that the future of financial services in Africa lies in innovation, and Money Fellows is leading the way by modernizing traditional savings systems,' said Mohamed Aladdin, General Partner at DPI Venture Capital. 'We are excited to partner with such a visionary company on a mission to enable seamless access to financial management tools to consumers in Egypt, and look forward to seeing them expand their impact across the Middle East and Africa.' 'We are proud to support Money Fellows in their efforts to bring digital financial services to more people across Africa,' said Cyril Collon, General Partner at Partech. 'Their platform is uniquely positioned to leverage traditional savings practices while incorporating modern technology to drive financial inclusion on a massive scale.' Patrick Meisberger, Managing Partner at CommerzVentures, added, 'The impact that Money Fellows is making in transforming savings practices is exactly the kind of innovation we're eager to support. By digitizing savings circles, they're not just changing the way people save – they're changing lives.' Founded in 2017 by Ahmed Wadi, Money Fellows has quickly established itself as a leader in the Fintech space. With this new funding, the company is poised to expand its operations into new markets, including North Africa, with a focus on Morocco, a key market for digital financial services. This growth is expected to be bolstered by major upcoming events such as the 2025 Africa Cup of Nations and the 2030 FIFA World Cup, which will significantly boost digital finance adoption across the region. About Money Fellows Money Fellows is a digital platform that modernizes Rotating Savings and Credit Associations (ROSCAs), a practice deeply rooted in African financial culture. With its easy-to-use mobile app, Money Fellows allows users to join savings circles, invest, and access credit in a secure, transparent, and efficient manner. To date, the platform has facilitated over $50 million in investments and supports 250,000 subscribers across multiple African countries. About Al Mada Ventures ( Al Mada Ventures is a Venture Capital Fund investing capital in scalable, sustainable, and innovative startups that have the power to reshape industries across the African continent. Fueled by a century-old African heritage and backed by 100% African capital, AMV supports visionary entrepreneurs that are developing and scaling transformative ideas for Africa and the world. About DPI Venture Capital ( DPI Venture Capital is the venture platform of Development Partners International (DPI), a leading pan-African investment firm managing over $3 billion in assets and active across more than 40 African and several Middle Eastern countries. DPI VC backs early to growth-stage technology companies, with a focus on fintech and fintech-enabled startups from Seed through Series C via the Nclude fund. With a presence in Cairo, Lagos, Dubai, and London, the platform brings deep operational expertise and a strong network to help founders scale across markets.
Wamda
16-04-2025
- Business
- Wamda
DPI acquires Egypt's fintech fund Nclude, launches Africa-focused VC arm
UK-based VC firm Development Partners International (DPI), an Africa-focused private equity firm, has taken over management of Nclude, an Egypt-based fintech fund by Global Ventures. Founded in 2022. Nclude announced a close of $110 million in September 2022, anchored by Banque Misr, and says it has invested $28 million in nine startups to date, including Partment, Khazna, and Paymob. DPI will provide investment advisory services to the fund through a dedicated team in Egypt. DPI has invested nearly $850 million in Egypt in the last decade and has seen the power of digitisation through portfolio companies such as MNT Halan and Kazyon. Press release: Development Partners International LLP ('DPI') is announcing the launch of DPI Venture Capital, which will target investments in early-stage, growth-orientated technology businesses across Africa. DPI has identified a unique opportunity to support early-stage companies and expand its strategy of investing in companies that positively impact the growing middle class in Africa. DPI has an eighteen-year track record of supporting growing innovation-led businesses, and its existing portfolio is embracing digitisation to improve access to a range of goods and services for Africa's growing population. DPI Venture Capital will be supported by the firm's reach in over 43 African countries and its investments across nearly a dozen sectors, including technology-driven businesses. The launch coincides with the completion of a fund restructuring transaction by which DPI commenced advising the Nclude Innovation Fund LP ('Nclude'), a leading fintech fund in Egypt. With the completion of that transaction DPI has taken over the investment advisory responsibilities of the Fund which is the largest fintech-focused fund in Africa. Since its establishment in March 2022, Nclude has invested over $28 million across nine transactions, including companies such as Paymob, Khazna, Flapkap, and Connect Money. Nclude is backed by LPs from Egypt's largest national banks, including Banque Misr, National Bank of Egypt, and Banque du Caire and joined by financial services-focused LPs e-Finance Investment Group, EBC, and Mastercard. Nclude was launched with the support of the Central Bank of Egypt. Nclude has the ability to invest up to 30% of its commitments into deals in the wider Middle East and Africa region to help such companies expand into Egypt. Egypt is a priority market for DPI. The organisation has invested nearly $850 million in Egypt in the last decade and has seen the power of digitisation via portfolio companies such as MNT Halan and Kazyon. With DPI becoming the investment adviser of Nclude, the firm will now advise the entirety of the Fund's US$105 million of assets under management. DPI is striving to ensure that the fund contributes towards building a thriving FinTech ecosystem in Egypt and increasing financial inclusion in the country. The launch of DPI Venture Capital and the completion of the Nclude transaction cement DPI's position as the premier Africa-focused private investment adviser and advance the firm's ambitions to provide clients with a range of opportunities to impactfully invest in Africa. DPI Venture Capital is being led by Managing Partner Ashley Lewis and includes an experienced team of venture capital professionals, including Mohamed Aladdin, who has joined the team as a General Partner. Runa Alam, DPI Co-Founder and CEO, said, 'By establishing DPI Venture Capital, DPI has fulfilled its long-standing ambition to provide investors with a range of investment strategies in Africa. The platform provides our limited partners with the opportunity to invest in Africa's most exciting companies from their very beginning. The completion of the Nclude transaction is an opportunity to build on the success of our previous investments in technology-led companies and will empower our investors to add exposure to highly innovative growth-orientated businesses.' Ashley Lewis, Managing Partner at DPI Venture Capital, said: 'The African venture capital ecosystem is still underpenetrated and there is a fantastic opportunity for Africa-focused fund sponsors to make a significant impact on the ecosystem. DPI Venture Capital is excited to welcome the Nclude team, portfolio companies, and LPs to DPI and to expand on their experience and close relationships with Egypt's leading investors and tech visionaries.'
Zawya
15-04-2025
- Business
- Zawya
Development Partners International launches DPI Venture Capital
DPI Venture Capital will provide investors access to pioneering, early stage, growth-orientated technology businesses across the Middle East and Africa. As part of the launch, DPI has completed a fund restructuring transaction to provide investment advice to the Nclude Fund, an established venture capital fund with $105 million in assets under management. DPI, through its Venture Capital team, will provide investment advisory services to the Nclude Fund, including its existing investments, and will be responsible for providing investment advisory services regarding further capital deployment. Ashley Lewis, Managing Partner and Head of DPI Venture Capital, along with a team based in Egypt, including Mohamed Aladdin, a General Partner, will be managing the DPI Venture Capital Platform and the Nclude Fund. London and Cairo – Development Partners International LLP ('DPI') is announcing the launch of DPI Venture Capital which will target investments in early stage, growth-orientated technology businesses across Africa. DPI has identified a unique opportunity to support early-stage companies and expand its strategy of investing in companies that positively impact the growing middle class in Africa. DPI has an eighteen-year track record of supporting growing innovation-led businesses, and its existing portfolio is embracing digitisation to improve access to a range of goods and services for Africa's growing population. DPI Venture Capital will be supported by the firm's reach in over 43 African countries and its investments across nearly a dozen sectors, including technology driven businesses. The launch coincides with the completion of a fund restructuring transaction by which DPI commenced advising the Nclude Innovation Fund LP ('Nclude'), a leading fintech fund in Egypt. With the completion of that transaction DPI has taken over the investment advisory responsibilities of the Fund which is the largest fintech focused fund in Africa. Since its establishment in March 2022, Nclude has invested over $28 million across nine transactions including companies such as Paymob, Khazna, Flapkap, and Connect Money. Nclude is backed by LPs from Egypt's largest national banks including Banque Misr, National Bank of Egypt, and Banque du Caire and joined by financial services focused LPs e-Finance Investment Group, EBC, and Mastercard. Nclude was launched with the support of the Central Bank of Egypt. Nclude has the ability to invest up to 30% of its commitments into deals in the wider Middle East and Africa region, to help such companies expand into Egypt. Egypt is a priority market for DPI. The organisation has invested nearly $850 million in Egypt in the last decade and has seen the power of digitisation via portfolio companies such as MNT-Halan and Kazyon. With DPI becoming the investment adviser of Nclude, the firm will now advise the entirety of the Fund's US$105 million of assets under management. DPI is striving to ensure that the fund contributes towards building a thriving FinTech ecosystem in Egypt and increase financial inclusion in the country. The launch of DPI Venture Capital and the completion of the Nclude transaction cements DPI's position as the premier Africa focused private investment adviser and advances the firm's ambitions to provide clients with a range of opportunities to impactfully invest in Africa. DPI Venture Capital is being led by Managing Partner Ashley Lewis and includes an experienced team of venture capital professionals including Mohamed Aladdin who has joined the team as a General Partner. Runa Alam, DPI Co-Founder and CEO said: 'By establishing DPI Venture Capital, DPI has fulfilled its long-standing ambition to provide investors with a range of investment strategies in Africa. The platform provides our limited partners with the opportunity to invest in Africa's most exciting companies from their very beginning. The completion of the Nclude transaction is an opportunity to build on the success of our previous investments in technology led companies and will empower our investors to add exposure to highly innovative growth-orientated businesses.' Ashley Lewis, Managing Partner at DPI Venture Capital said: 'The African venture capital ecosystem is still underpenetrated and there is a fantastic opportunity for Africa focused fund sponsors to make a significant impact on the ecosystem. DPI Venture Capital is excited to welcome the Nclude team, portfolio companies, and LPs to DPI and to expand on their experience and close relationships with Egypt's leading investors and tech visionaries.' About DPI DPI is an Africa focused, multi-strategy private investment firm with over US$3 billion in assets under management and co-investments across three funds, targeting high growth, impact-driven, and innovation-led companies. Since DPI was founded in 2007, its ADP funds have completed 33 investments and many exits across Africa. As a signatory to the UN Principles for Responsible Investment (PRI) and the Operating Principles for Impact Management, DPI promotes high ESG and Impact standards and seeks to contribute to the UN Sustainable Development Goals. About Nclude Nclude is the region's first fintech innovation engine and the largest fintech focused venture capital platform in Africa. Partnering with Egypt's leading banks and financial system focused LPs, the firm's founder-centric strategy invests all the way from Seed funding to Series C, focused on innovative fintech businesses that help foster financial inclusion in Egypt and beyond. Media Contacts DPI Edelman Smithfield Joe Carton, Alfie Tisdall E: dpi@
