Proparco announced an investment in an early-stage venture capital fund managed by DisrupTech Ventures, to support development in Egypt’s fintech sector and help expand access to financial services in the country.
Proparco committed $5 million to DisrupTech, which aims to provide seed capital to up to 28 start-ups with a prime focus on financial technology services.
Founded in 2021, DisrupTech is an early-stage VC fund that aims to provide Seed capital to up to 28 startups with a prime focus on fintech. The fund has raised $36 million from several investors, including Development Finance Institutions, Funds-of-funds and family offices.
Proparco is a subsidiary of the French Development Agency which has invested over $134 million in early-stage companies and venture capital funds in Africa since 2020.
