Gate News message, April 14 — Egyptian fintech startup Masroofi recently secured $1.5 million in funding to expand its digital payment services for children aged 5 to 15. The company targets Egypt’s 20 million children and aims to build a network of 2 million users within five years, focusing on Cairo, Giza, and Alexandria.
Masroofi offers NFC-enabled bank cards in partnership with Arab Bank and Visa, alongside a mobile app that functions as an e-wallet and provides financial education lessons. Co-founded in 2022 by Mostafa Abdel-Khabeer and Sayed Hosni, the startup gained attention after rejecting a £16 million offer on Shark Tank.
The company’s services align with Egypt’s 2022-2025 financial inclusion strategy and Vision 2030 economic diversification goals. According to the Central Bank of Egypt, the country’s financial inclusion rate stands at 60% for men and 54.1% for women.
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