Founded in 2023 by Ayman El-Sawy, Bokra has emerged as a pioneering fintech platform in Egypt, catering to a diverse array of financial objectives. Its services empower retail and SME investors to save and invest across multiple asset classes, marking a significant step towards financial inclusion.
Addressing Financial Challenges
Bokra tackles various hurdles encountered by retail investors and SMEs in managing their wealth. These challenges include the absence of personalized investment planning, fragmented applications for asset-class investments, opaque fee structures, and high-ticket physical assets. Through innovative solutions, the fintech aims to simplify financial management and investment processes for its users.
Pre-Seed Funding Boosts Expansion Efforts
With the recent $4.6 million pre-seed funding, Bokra is poised to enhance its offerings significantly. The infusion of capital enables the Bokra app to provide personalized and balanced financial and investment planning across various asset classes. Moreover, users can now manage and expand their wealth through fractional ownership of a diverse range of products, thereby democratizing access to investment opportunities.
Commitment to Financial Inclusion
Ayman El-Sawy reaffirms Bokra’s commitment to accelerating financial inclusion and investment awareness across the MENA region. By offering a user-friendly investment platform, Bokra aims to become the preferred choice for individuals and SMEs seeking to diversify their investment portfolios in a simple, trackable, and informed manner.
Excitement for the Future
Mohamed Okasha, founder and managing partner at DisrupTech Ventures, expresses enthusiasm for Bokra’s prospects. He notes the significant demand for alternative investment solutions, driven by remarkable returns in the market. With Bokra’s innovative approach and talented management team, the fintech is well-positioned to impact the lives of millions of Egyptians.
Tackling Unbanked Rates
The need for fintech solutions like Bokra is underscored by high unbanked rates in countries like Morocco and Egypt. With approximately 67% of the Egyptian population remaining unbanked, Bokra’s mission to disrupt the industry with goal-based and asset-backed securities products is crucial. Through its innovative use of investment instruments, Bokra aims to address the financial needs of underserved populations and foster greater financial inclusion.