Egypt: Blnk Raises $37m to Expand Consumer Credit Access in Egypt

Egyptian fintech Blnk raised $37.1 million in equity and debt funding to expand its point-of-sale consumer financing business. The round includes $12.5 million in Series A equity funding led by Algebra Ventures, with participation from SANAD Fund for MSME, Endeavor Catalyst and Emirates International Investment Company. Blnk also secured $24.6 million in local debt facilities from banks and non-bank lenders including National Bank of Egypt, Suez Canal Bank, Bank Albaraka, Corplease, Globalcorp and…