News
Blnk raises $37.1 million in Series A equity and local debt, led by Algebra Ventures
Egyptian consumer lender Blnk has secured $12.5 million in Series A equity and $24.6 million in local debt to widen its financial inclusion offer.
By Propel Africa · 2026-06-08
Blnk has secured $37.1 million, made up of $12.5 million in Series A equity and $24.6 million in local debt, Wamda reported on 8 June. Algebra Ventures led the equity round, joined by SANAD Fund for MSME, Endeavor Catalyst and Emirates International Investment Company (EIIC), which also backed Blnk's seed round.
The debt side
The debt came from Egyptian lenders including National Bank of Egypt, Suez Canal Bank and Al Baraka Bank, alongside non-bank providers Corplease, GlobalCorp and BM Lease.
What Blnk does
Blnk offers point-of-sale consumer financing built on AI-driven underwriting. Customers can take loans of 6 to 36 months for products and services, and approval reportedly takes about three minutes. Amr Sultan and Tarek Elsheikh founded the company in 2021, and Sultan is CEO. It works in Egypt and plans to look at regional expansion.
Traction and plans
Blnk has onboarded more than 1 million customers and holds a loan portfolio above EGP 1 billion across more than 3,000 merchant stores. About 75% of its users were previously unbanked or underserved, and over 35% are women. It turned profitable in 2025 with revenue up 173% year on year. The new funds will go towards more products, technology upgrades, regional expansion and a credit card programme. Sultan said: "This new round of funding positions us to strengthen our profitability".
At a glance
- Company: Blnk
- Raised: $37.1 million ($12.5 million equity, $24.6 million debt)
- Round: Series A plus local debt
- Lead: Algebra Ventures
- Founded: 2021
- Markets: Egypt
- Key figure: More than 1 million customers