DisrupTech: One of Egypt's most Active Fintech-Focused VCs

DisrupTech: One of Egypt's most Active Fintech-Focused VCs

By Ashok Raman, 15 April 2024

Founded in 2021, Disruptech is a VC firm focused on early-stage fintech and fintech-enabled digital services. It aspires to be a catalyst in transforming the larger financial services ecosystem in Egypt.

  • Year Established: 2021
  • HQ: Cairo, Egypt
  • AUM: N/A
  • # of Portfolio Companies: 18
  • Total # of deals*: 20
  • % of companies in Egypt: 100%
  • Avg # of deals per year: ~5-7
  • Number of exits: 1
  • Funding Stage: Pre-Seed, Seed, Series A
  • Ticket Size: US$ 1 million
  • Team Size: 6-10
  • Website: http://www.disruptechventures.com/

Disruptech Ventures' Deals in EgyptDisrupTech was founded by Mohamed Okasha, formerly Managing Director at Fawry, Malek Sultan, a leading finance guru, and Yehia Abou Elwafa, formerly Chief Investment Officer at MNT-Halan Investments in the Netherlands.. It launched its first $36 million fund in 2021, focusing on early-stage fintech and fintech-enabled digital services. With a keen interest in early-stage capital, specifically seed and late seed stages, DisrupTech has made investments across 18 portfolio companies, and has already experienced 1 successful exit. Its first two investments included Khazna, a Cairo-based fintech that aims to provide mobile financial services to over 20 million underbanked Egyptian, and Brimore, distribution technology platform that enables local manufacturers and suppliers to have nationwide coverage through a network of individual sales agents. 

The firm invests in tranches, starting at around US$ 250,000 and reach up to US$ 2mn.

DisrupTech doesn’t just invest, though; it nurtures, driven by the fact that Okasha was one of the co-founders of Fawry, Egypt’s first and arguably most successful fintech to date, Sultan’s experience as a Chief Investment Officer at Beyout Investment Group and Elwafa’s experience as a Chief Investment Officer at MNT-Halan Investments. The DisrupTech team adopts a hands-on approach from the very beginning.

2023 marked a pivotal year for Disruptech. In February, they played a significant role in MNT-Halan’s massive $400 million funding round, bolstering the fintech and e-commerce ecosystem for the underbanked. In May, Proparco’s $5 million commitment to Disruptech underscored its growing influence, promising seed capital to up to 28 startups. This is in addition to receiving funds from IFC as well as Madagascar-based AXIAN Group, in 2022.

Also Read: MNT-Halan: From Ride-Hailing Roots to Becoming a Payments SuperApp Unicorn in 2023

As of May 2023, the firm had already invested 40% of its fund. With an aspiration to be a catalyst in transforming the larger financial services ecosystem in Egypt, Disruptech is excited for Egypt’s prospects, and supports entrepreneurs, provides increased access to financial services and to contributing towards Egypt’s growth. For Disruptech, every investment is a step towards a future where technology empowers people, communities, and economies.

“At Disruptech, we value Egypt as a vibrant emerging market with untapped opportunities and a digitally connected, youth-majority population. We actively invest in talented, ethical and experienced founders who realize the power of disruptive innovation. On average, we write one check every two months while extending 360° hands-on support on all areas of business through internal functions and external advisors. Leveraging our 70+ years of combined experience, DisrupTech works to be an enabler of ecosystem growth and economic development.” - Mohamed El Sayed Okasha, Co-founder of Disruptech

Visit Disruptech’s Investor Page here


Next Read: Egypt’s Most Active Investors: The Global, Regional & Local Investors Fueling the Ecosystem


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