Egyptian Fintech Blnn Raises $37.1M to Expand Consumer Lending

Egyptian fintech Blnk has raised $37.1 million in equity and debt financing as digital lenders race to serve millions of consumers still locked out of Egypt's formal credit system. The company provides instant checkout loans through more than 3,000 merchants across Egypt, targeting underserved and first-time borrowers.

Blnk says over 75% of its customers were previously unbanked or lacked access to formal credit. The funding highlights growing investor interest in Egypt's fast-expanding non-bank financial sector and digital lending market, where rising living costs and limited formal credit access have increased demand for instalment-based purchases.

The raise includes a $12.5 million Series A equity round led by Algebra Ventures. SANAD Fund for MSME, Endeavor Catalyst and Emirates International Investment Company also participated in the equity round.

Blnk also secured $24.6 million in local-currency debt facilities from banks and non-bank lenders, including the National Bank of Egypt, Suez Canal Bank, Bank Al Baraka Egypt, Corplease, Globalcorp and BM Lease. This local-currency borrowing strategy helps reduce exposure to foreign-exchange losses at a time when Egypt's currency has faced repeated pressure.

The company said the money will be used to expand its lending products, improve its technology, explore geographic expansion and launch a credit card programme that allows customers to spend approved credit outside its merchant network. Founded in 2021 by Amr Sultan and Tarek Elsheikh, Blnk offers instant consumer loans at checkout through more than 3,000 merchants across Egypt.

Customers can finance purchases such as electronics, furniture, household appliances and automotive services, with repayment periods ranging from six to 36 months. The model places Blnk in a fast-growing but still underpenetrated part of Egypt's financial sector.

Egypt's consumer finance market reached EGP 96.3 billion, about $2 billion, in 2025, up 57.1% from the previous year according to the country's Financial Regulatory Authority. That growth has not fully translated into broad access to credit, with fewer than 5% of Egyptian adults estimated to have access to formal credit.

Only 3.9% of women use credit cards or online lending tools, creating room for fintech companies and non-bank lenders to target customers who may have bank accounts but remain unable to borrow from traditional financial institutions. Blnk says women account for more than 35% of its user base.

The company has onboarded more than one million customers and built a loan portfolio of more than EGP 1 billion. It said it became profitable in 2025 after revenue rose 173% year-on-year, unlike conventional lenders that rely heavily on credit bureau records.

Blnk uses alternative data, machine-learning models and proprietary risk tools to assess borrowers with limited credit histories, allowing it to make credit decisions within minutes while managing default risk. The challenge will be scaling lending to first-time borrowers without allowing fast growth to weaken credit quality.

"We're proud to have secured the backing of some of the most respected investors in the region and beyond for this round of funding," Amr Sultan, Blnk's chief executive and co-founder, said. "This new round of funding positions us to strengthen our profitability, expanding our reach, diversifying our offerings and doubling down on our commitment to unlocking financial access for millions of consumers in Egypt and beyond," he added.

Karim Hussein, managing partner at Algebra Ventures, said Blnk's ability to serve underbanked consumers while maintaining disciplined credit management had positioned it as a major player in Egypt's consumer finance market. The funding also reflects wider investor interest in Egypt's non-bank financial sector, where regulators have been expanding oversight of consumer finance, microfinance, leasing and factoring.