Egyptian startup Bokra, which aims to revolutionise wealth management in the MENA region by being the first platform to offer goal-based investment and saving products through asset-backed securities, plans swift expansion to Saudi Arabia and the United Arab Emirates (UAE) once it launches.
Born out of a belief that finance should be inclusive, transparent, and socially responsible, Bokra has developed an app that offers personalised and balanced financial and investment planning across different asset classes, built for the first time upon asset-backed securities.
The platform 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.
“We saw a gap in the market for a solution that not only empowers individuals and SMEs to manage their wealth effectively but also aligns with their values and aspirations for a better world,” said Ayman El-Sawy, founder and CEO of Bokra.
Bokra is astoundingly well-funded for a pre-launch venture, having raised a US$4.6 million pre-seed round led by DisrupTech Ventures and SS Capital, alongside other investors. This capital will be utilised to launch its app, expand the range of investment products, and geographically scale operations across MENA.
“Our deep commitment to assisting individuals and SMEs in effortlessly reaching their financial goals through investments in asset-backed securities sets us apart from other fintech startups in Egypt and the wider MENA region,” said El-Sawy.
Once it launches in Egypt, Bokra will swiftly launch in Saudi and the UAE, at the same time, and El-Sawy says it plans to eventually expand across the Gulf Cooperation Council (GCC) region. The startup aims to generate revenue through diverse channels and innovative monetisation strategies, focusing on the development and offering of products tailored for retail consumers.
“These products are designed to be scalable and seamlessly integrated into individuals’ daily lives, becoming essential components of their everyday routines,” said El-Sawy.
