Disruptive Money Fund announces its new investment in Bankenbook

Amid Egypt’s digital banking transformation, DisrupTech Fund, a prominent venture capital entity specializing in financial technology in the country, has officially announced a strategic investment in Banknbox.

Recognized for its trailblazing role in digital services and non-traditional payment technology, Banknbox intends to leverage this strategic partnership to introduce innovative services and comprehensive solutions previously unavailable to local and regional banks and financial technology firms.

This investment not only facilitates Banknbox’s expansion into new markets but also enhances its capabilities to meet evolving client needs, aligning with the broader objectives of DisrupTech Fund in its investments across various companies.

Mohamed Okasha, CEO of DisrupTech Fund, emphasized the collaborative effort and Banknbox’s distinctive capabilities in providing integrated services through its internally developed platform. Banknbox has positioned itself as a leader in payment processing and digital banking technology, drawing upon its 15-year experience in financial technology solutions.

DisrupTech Fund aims to leverage this expertise to inform its current and future investments, expanding its portfolio with a focus on integrated platforms.

Banknbox, with a mission to deliver secure solutions adhering to the highest standards, aligns with the Central Bank of Egypt’s vision for promoting financial inclusion, banking technology, and digital payments. The collaboration seeks to offer a seamless digital banking experience to customers, emphasizing innovation, customer satisfaction, and the transformation of operational norms within banks and companies.

Expressing enthusiasm for the partnership, Mohamed Okasha highlighted the potential to revolutionize the industry. He emphasized the commitment to investing in innovative technologies that support financial technology companies, enabling the provision of safe and innovative services.

This strategic investment positions Banknbox to utilize the Egyptian market as a launchpad for operations, serving both local and regional markets while supporting the company’s global expansions.

Basem Mahmoud, CEO of Banknbox, expressed pride in the achievements thus far and the cooperation with DisrupTech Fund.

He highlighted the shared mission of providing integrated banking services and payment technology. Mahmoud emphasized the value of DisrupTech’s expertise in financial technology investments to help develop Banknbox’s platform and expand its reach in Egypt and the broader region.

Banknbox, having developed a suite of digital services internally, focuses on flexibility, compatibility, and cost-effectiveness.

These services include phone banking applications, internet banking, electronic wallets, tokenization services, e-KYC services, artificial intelligence technology, Chatbot, Open Banking APIs, automated branch services, and communication services technology.

In addition to offering comprehensive services, Banknbox is currently in negotiations with banks and financial institutions within and outside Egypt to provide a range of services based on its robust infrastructure and established systems.

These negotiations draw on the company’s experience with numerous institutions worldwide, spanning more than 15 countries. Banknbox’s services cover ATM machine management, transaction monitoring, POS and Soft-POS electronic payment machines, white-label electronic payment gateway, and anti-fraud systems with artificial intelligence, among others, catering to diverse sectors such as finance, healthcare, and transportation.

Related Articles

Back to top button