Bokra, a Cairo-based fintech, announces the successful closure of its $4.6mn pre-seed round led by DisrupTech Ventures, and SS Capital alongside other investors, setting it to revolutionize wealth management in the MENA region by being the first platform to offer goal-based investment and saving products through asset backed securities.
On a mission to democratize wealth management, Ayman El-Sawy, an industry veteran boasting 21 years of experience in non-banking financial services and debt instruments, founded Bokra to serve diverse financial goals and empower retail and SME’s investors to seamlessly save and invest across multiple asset classes. Bokra’s team is tackling several challenges facing retailers and SMEs looking to manage their wealth, including the lack of personalized investment planning, fragmented applications for asset-class investments, non-transparent fee structures, and high ticket physical assets.
Recognizing these pain points, the Bokra app offers personalized and balanced financial and investment planning across different asset classes, which is built for the first time upon asset backed securities. Empowering users to manage and grow their wealth through fractional ownership of diverse products.
Commenting on the successful closure of the pre-seed round, Ayman El-Sawy, Founder and CEO of Bokra, stated: “Since day one, we have been on a mission to make high-yield and asset-backed investment opportunities a reality to retail investors. These instruments are set to undergo financial structuring through our FRA-licensed subsidiary sukuk arm, in return igniting radical and substantial impact to individuals and SMEs. Such disruption is made possible by our advanced fintech solutions, and more importantly, our management team, which possesses accumulated expertise of up to 120 years in financial technology and the non-banking financial sector. We are dedicated to accelerating financial inclusion and elevating investment awareness across MENA. In a region where financial needs and aspirations are ever changing, Bokra is poised to become the preferred investment platform for both individuals and SMEs looking to diversify their fractional ownership portfolio in a simple, trackable and informed way.”
From his side, Mohamed Okasha, Founder and Managing Partner at DisrupTech Ventures, expressed his excitement for the round: “Bokra’s launch is perfectly timed, the demand for alternative investment solutions has reached unprecedented heights due to remarkable returns. With 67% of the population remaining unbanked, we deeply support Bokra’s mission of disrupting the industry by offering the first goal-based and asset backed securities products. Their innovative use of investment instruments, coupled with their best-in-class management team, poises Bokra to impact the lives of millions of Egyptians.”
“This strategic infusion of capital will empower Bokra to offer an unprecedented pack of offerings to users across the region. At SS Capital, we believe in supporting promising ventures with transformative potential, and we are confident that Bokra’s dedication to empowering youth through its financial products will create a lasting impact on wealth management in our part of the world. We are excited to witness their growth journey and success as they shape the future of financial freedom,” stated Samer Sallam, Chairman of SS Capital.
Due to launch in Q2 2024, the user journey of Bokra aims to be personal and simple. After answering a comprehensive questionnaire, users will determine their risk appetite, investment tenor, and monthly contribution amount. Based on the output, they are matched with a portfolio containing a mix of instruments that align with their goals. The Bokra app also features ‘scenario playing’, allowing users to measure the yields of their monthly contributions, as well as a dashboard to systematically track and remain on top of their financial goals.
The funds will be utilized to launch the Bokra app, expand the range of investment products, and geographically scale operations across MENA. Further supporting Bokra’s efforts towards raising investment awareness and promoting a culture of smart investing to cater to various financial goals and aspirations.