Arab Finance: The Egyptian fintech start-up BLNK is planning to issue a new financing tranche via increasing its capital by $5-10 million, BLNK’s Co-founder and CEO Amr Sultan told Asharq Business on June 12^th.

The move follows the company’s seed funding round that took place in 2022, Sultan noted, adding that  Series A funding round will start by the end of 2023.

He said that the company raised $32 million in funding last year via pumping capital, securing financing from banks, and issuing securitized bonds.

BLNK is targeting securing the funds from institutions focusing on start-ups in Africa, as well as from Egyptian investors and lenders from the Gulf region, the firm’s CEO added.

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