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Egyptian Fintech Bokra Secures $4.6 Million in Seed Funding Round

Aerobotics Gets Undisclosed Funding from NedBank after its Series A Round of Funding
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Bokra will support a variety of financial goals and enable retail and SME investors to easily save and invest across different asset classes.

To assist merchants and SMEs in managing their wealth, Bokra’s team is tackling several challenges, such as the lack of personalized investment planning, fragmented asset-class investment applications, opaque fee structures, and costly physical assets.

 

The Bokra app addresses these challenges by offering balanced, individualized financial and investment planning across various asset classes. It stands out as the first app of its kind based on asset-backed securities, providing users with partial ownership of a diverse array of items, thereby helping them manage and grow their wealth.

Ayman El-Sawy, founder and CEO of Bokra, commented on the successful closure of the pre-Seed round: “From the very beginning, our mission has been to make high-yield and asset-backed investment opportunities accessible to retail investors. 

These instruments will undergo financial structuring through our FRA-licensed subsidiary sukuk arm, creating a significant and transformative impact on individuals and SMEs. This disruption is driven by our advanced fintech solutions and, more importantly, by our management team, which boasts up to 120 years of combined expertise in financial technology and the non-banking financial sector. 

We are committed to enhancing financial inclusion and raising investment awareness across MENA. In a region where financial needs and aspirations are constantly evolving, Bokra is set to become the preferred investment platform for both individuals and SMEs seeking to diversify their fractional ownership portfolio in a simple, trackable, and informed manner.”

Scheduled for a Q2 2024 launch, Bokra’s user journey is designed to be both straightforward and personalized. Users determine their monthly contribution amount, investment tenure, and risk appetite through a comprehensive questionnaire. Based on the results, they are matched with a portfolio that includes a variety of instruments aligned with their objectives. 

The Bokra app features a dashboard that helps users consistently monitor and stay on top of their financial goals. Additionally, it offers scenario analysis, allowing users to assess the potential returns on their monthly contributions.

The funding will support the launch of the Bokra app, the expansion of the selection of financial products, and the growth of operations across the Middle East and North Africa. This will extend support for Bokra’s initiatives to increase investment literacy and foster a culture of wise investing to meet a range of financial objectives and desires.

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Written by Grace Ashiru

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