Khazna Taps Into the Saudi Arabian Market
Khazna, a Cairo-based financial super app, is entering a strategic collaboration with Khwarizmi Ventures (KV), a venture capital fund based in KSA.
Khazna, a Cairo-based financial super app, has unveiled its entry into the Saudi Arabian market through a strategic collaboration with Khwarizmi Ventures (KV), a venture capital fund based in Saudi Arabia focusing on early-stage startups across the MENAP region.[1]
Building on its track record of success in Egypt, where it boasts over 300 commercial partners and serves half a million end-users, Khazna has secured substantial equity funding and credit facilities to fuel its expansion efforts.
Ibrahim Almojel, an early investor in Khazna, expressed strong confidence in the company's potential to thrive in the Saudi market. He will lead the board as its non-executive chairman, guiding Khazna's strategic direction in the Kingdom.
Enterpreneurs Omar Saleh, Ahmed Wagueeh, Fatimah El Shenawy, and Omar Salah founded Khazna in 2020 with the goal of helping Egyptians who are underbanked and have limited access to formal financial services, including bill payment, buy now, pay later (BNPL), and general-purpose credit.[2]
In 2022, Khazna secured $38 million in the Series A round.