Bokra, an innovative Egyptian fintech startup, has successfully secured a substantial $4.6 million in its pre-seed funding round. The round was spearheaded by DisrupTech Ventures and SS Capital, with additional contributions from several undisclosed investors.
Launched in 2023 by Ayman El-Sawy, Bokra is set to transform the landscape of wealth management in the Middle East and North Africa (MENA) region. The company introduces a groundbreaking platform designed for goal-based investing and saving, utilizing asset-backed securities to cater to both retail and small and medium-sized enterprise (SME) investors.
Historically, the MENA region has encountered significant barriers in wealth management, such as a lack of tailored financial planning, fragmented investment applications, and non-transparent fee structures. Bokra addresses these issues head-on with its innovative Bokra app, which is currently under development.
The forthcoming Bokra app will offer users personalized financial and investment plans that align with their individual goals, enhancing their ability to make informed decisions. It will also support fractional ownership of a wide array of investment products, enabling investors to manage and expand their portfolios with greater efficiency and flexibility.
Ayman El-Sawy, the founder of Bokra, emphasized the startup’s vision, stating, “Bokra is poised to become the preferred platform for individuals and SMEs who wish to diversify their investment portfolios in an easy-to-follow, transparent, and informed manner.” He further noted the company’s commitment to advancing financial inclusion and fostering investment literacy across the MENA region.
Mohamed Okasha, the founder and managing partner at DisrupTech Ventures, also expressed his support for Bokra’s timely market entry. “The launch of Bokra is perfectly timed to meet the growing demand for alternative investment solutions, which are known for their appealing returns,” Okasha said. He highlighted the critical role of Bokra’s mission in a region with a significant unbanked population, adding, “We are fully behind Bokra’s mission to revolutionize the industry by introducing the first goal-based, asset-backed securities products.”
The funds from this pre-seed round will be strategically utilized to finalize and launch the Bokra app, broaden its array of investment products, and extend its operational footprint across the MENA region.
