Egyptian startup Bokra has closed a US$4.6 million pre-seed round of funding to support it in its goal of revolutionising wealth management in the MENA region by being the first platform to offer goal-based investment and saving products through asset-backed securities.
The Bokra app offers personalised and balanced financial and investment planning across different asset classes, which is built for the first time upon asset-backed securities. It empowers users to manage and grow their wealth through fractional ownership of diverse products.
Due to launch in the second quarter of this year, Bokra asks users to answer a comprehensive questionnaire to determine their risk appetite, investment tenor, and monthly contribution amount. Based on this, 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 company’s US$4.6 million pre-seed round was led by DisrupTech Ventures and SS Capital, alongside other investors, and will be utilised to launch its app, expand the range of investment products, and geographically scale operations across MENA.
“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,” said Ayman El-Sawy, founder and CEO of Bokra.
“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.”
