Egyptian Fintech Blnk Raises $37M for First-Time Borrowers

Millions of Egyptians who've been locked out of traditional banking just got a powerful new path to financial independence.

Blnk, a fintech startup founded in 2021, raised $37.1 million to expand loans for people with little or no credit history. The funding combines $12.5 million in equity led by Algebra Ventures and $24.6 million in debt from Egyptian banks.

The company works with over 3,000 merchants across Egypt, letting customers finance purchases like electronics, furniture, and car repairs at checkout. Shoppers can split payments over 6 to 36 months without needing a bank account, proof of income, or credit history.

The need is massive. About 16.7 million Egyptian adults have zero access to formal credit and banking services as of June 2025.

Co-founder and CEO Amr Sultan told TechCabal that around 75% of Blnk's customers are borrowing formally for the first time in their lives. These aren't people choosing between lenders. They're people finally getting a chance to build credit.

Blnk uses machine learning and alternative data to evaluate borrowers who traditional banks would automatically reject. The approach is working. The company became profitable in 2025 after growing revenue by 173% year over year.

More than one million customers have signed up, creating a loan portfolio exceeding $21 million. The startup avoided the foreign exchange losses that hurt many Egyptian businesses by borrowing exclusively in local currency rather than dollars.

The Ripple Effect

When people access credit for the first time, the effects spread far beyond a single purchase. Families can afford essential items without draining savings. Small business owners can buy inventory. Parents can invest in their children's education.

Egypt's consumer finance sector grew 29.6% to $1.2 billion in 2024, and consumer credit jumped 22.7% in March 2025 alone. The momentum shows how many people are ready to participate in the formal economy once given the opportunity.

Blnk plans to use the new funding to expand its lending products, strengthen its technology, and explore growth beyond Egypt. The company's success proves that serving underserved markets isn't just good for society. It's good business.

Nearly 17 million people are one step closer to building the financial futures they deserve.