Van Campen Liem congratulates Blnk on their USD 32mio funding!
The financing was split across different stages and funding types: $12.5 million pre-seed and seed equity rounds (led by Abu Dhabi’s Emirates International Investment Company (EIIC) and Sawari Ventures), $11.2 million debt financing and $8.3 million securitized bond issuance. Saman Sadeghi and Philip van Rossum acted for the lead investors of the equity rounds, EIIC and Sawari Ventures.
Blnk, co-founded in October 2021 by Amr Sultan is a digital lending platform that partners with merchants, allowing them to underwrite customers at the point of sale and provide them with finance to purchase items such as electronics, furniture and automotive services via 6-36 month installments. It plans to “accelerate financial inclusion within underserved communities across the country” and support its “AI-powered” lending infrastructure. So far, Blnk says to have disbursed over $20 million in loans via a network of more than 300 merchants to over 60,000 customers who pay an average of 2.6% monthly interest.
For more information you can visit: https://www.reuters.com/technology/egyptian-startup-blnk-raises-32-million-funding-round-2022-11-10/