advertisement
Khazna Secures $16 Million Pre-Series B Funding

Khazna, an Egyptian fintech startup, has secured $16 million in pre-Series B funding, bringing its total funding to over $63 million. The investment will support its expansion plans as it prepares to apply for a digital banking license in Egypt and expand into Saudi Arabia.
The startup, which was founded in 2019, secured its first funding in 2022 with a $38 million Series A round. At the time, Khazna had around 150,000 customers across its products. Today, the startup has grown its user base to over 500,000 people.
The company focuses on workers earning three times less than Egypt’s minimum wage, providing them with affordable financial tools. About 100,000 users receive their payroll through Khazna, allowing the company to integrate financial services such as loans and insurance directly into their payroll accounts.
advertisement
For the remaining 400,000 users, Khazna offers lending services, helping gig workers and pensioners access credit.
The startup’s co-founder and CEO, Omar Saleh explained that this product made the fintech break-even last month.
“What we did over the last two and half years was to focus on our core product, which is credit offering to payroll and pension recipients and also unsecured loans to gig workers,” co-founder and CEO Omar Saleh told TechCrunch. “This is the most profitable and core product in our journey, and getting it right was very important because it has helped us to hit profitability.”
advertisement
Khazna provides other services like bill payments, buy now, pay later, medical insurance, and a rent-to-own product. But by embedding itself into both payroll and lending, it is strategically moving toward becoming a full-fledged digital bank for Egypt’s underserved communities.