Visa has chosen four North African fintech startups—two from Egypt and two from Morocco—to join its Africa Fintech Accelerator as part of a $1 billion commitment to support African entrepreneurs by 2027. The Cairo-based startups Flend and MNZL, alongside Morocco’s Hsabati and Woliz from Casablanca, are among 22 fintechs in the latest cohort benefiting from Visa’s three-month program offering funding, mentorship, and networking.
Flend, a digital lender to SMEs using technology for onboarding and credit scoring, raised $3 million in seed funding and is led by a team with strong banking and fintech backgrounds. MNZL enables borrowing using assets like homes and cars as collateral, targeting Egypt’s largely unbanked population, with $3.5 million raised in 2024.
Morocco’s Hsabati helps SMEs manage financial data to facilitate capital raising and secured $1.6 million in 2023. Woliz focuses on very small businesses, offering digital payment and loyalty solutions to boost profitability. Fintech dominates Middle Eastern startup fundraising, accounting for $1.3 billion of the $2.1 billion raised in H1 2025, driven by Egypt’s large population and unmet financing needs.
Visa’s accelerator supports startups tackling financial inclusion challenges, with Egypt home to some of the region’s biggest tech success stories, including MNT-Halan and Fawry.
