Egyptian Fintech Blnk Raises $37.1M for Point-of-Sale Loans to Unbanked

Blnk, an Egyptian fintech enabling instant point-of-sale loans, raised $37.1 million ($12.5M equity + $24.6M debt) to expand lending to consumers with no formal credit access. The Series A round led by Algebra Ventures adds to local currency facilities from National Bank of Egypt, Suez Canal Bank, and Bank Al Baraka Egypt.

With 16.7 million Egyptian adults outside the formal banking system, Blnk provides checkout loans through 3,000+ merchants for electronics, furniture, and automotive services, repayable over 6-36 months. The company targets first-time borrowers - 75% of their clients have never used formal credit - using machine learning models to evaluate alternative data points.

Blnk now serves over 1 million customers with a loan portfolio exceeding EGP 1 billion ($21 million), achieving profitability in 2025 after 173% revenue growth. The model demonstrates how fintech can serve unbanked populations without requiring traditional income verification or credit history - a blueprint relevant for Nigeria's similar financial inclusion challenges.

SOURCE: https://techcabal.com/2026/06/08/egypts-blnk-raises-37-million-to-expand-lending/