EBRD Invests $21M in Egyptian Fintech Infrastructure Startup MSS Holding
The European Bank for Reconstruction and Development (EBRD) has signed an agreement to invest USD $21 million in the Egyptian financial technology infrastructure startup MSS Holding, a portfolio company of Lorax Capital Partners. This phased investment aims to support the growth of MSS Holding's payment services across Egypt and Africa.
Supporting Egypt's Fintech Infrastructure
MSS Holding specializes in providing critical payment infrastructure, specifically card issuing and processing services, for both financial and non-financial institutions. Its focus markets are Egypt and the broader African continent, playing a key role in enabling digital payments and modernizing financial services.
EBRD's Phased Investment
The EBRD's $21 million investment will be deployed in two stages:
An initial $14.7 million committed as a binding agreement in the first phase.
A further commitment to invest $6.3 million in a subsequent phase.
This structure provides MSS Holding with significant capital to fuel its immediate and near-term growth plans.
Broader EBRD Commitment to Egypt
This investment aligns with the EBRD's long-standing commitment to supporting private sector development and economic transformation in Egypt. The bank has been active in the country since 2012, investing over $13.8 billion across more than 200 projects.
The article also contextualizes this investment alongside other successful EBRD initiatives in Egypt, such as the Green Economy Financing Facility (GEFF) program. Launched in 2018 with partners including the EU, EIB, and AFD, GEFF channeled $154 million through local banks (NBK, QNB, AlexBank, AAIB) for green investments by the private sector, funding 130 projects and achieving significant energy savings and CO2 reductions. A second phase of GEFF is currently underway.
About MSS Holding
MSS Holding is an Egyptian fintech startup focused on providing payment infrastructure technology. It offers card issuing and processing services to institutions across Egypt and Africa. The company is part of the portfolio managed by the private equity fund Lorax Capital Partners.
Looking Ahead
The EBRD's substantial investment provides MSS Holding with significant resources to scale its operations and enhance its technological offerings. This partnership is poised to strengthen Egypt's digital payment infrastructure, contribute to greater financial inclusion, and support the growth of the fintech ecosystem across Egypt and potentially other African markets where MSS Holding operates or plans to expand.
Source: Banker News