Cassbana, an Egyptian based fintech startup that uses artificial intelligence to manage a behaviorual based credit scoring system, has raised US$1-million from investors led by Disruptech. Cassbana provides access to credit to the unbanked segment in Egypt by ensuring that the financial services sector can provide credit facilities to formally unbanked customers. The startup was established in 2020 and now has the required funding to expand its operations.
Disruptech is an Egyptian focused fintech fund that has US$25-million available for investment opportunities. The fund was established by Mohamed Okasha and Malek Sultan and has since invested in companies such as Khazna, Brimore and recently in Cassbana. The stake acquired by the consortium of investors led by Disruptech was not disclosed.