Khazna, a fintech startup based in Egypt, has raised US$16 million in a pre-series B funding round to support its expansion into Saudi Arabia and efforts to secure a digital banking license in Egypt.

The funding round saw participation from new and existing investors, including SANAD Fund for MSME, anb Seed Fund, Aljazira Capital, Khwarizmi Ventures, Nclude, ICU Ventures, Quona, Speedinvest, and Disruptech Ventures.

Founded in 2020 by Omar Saleh, Ahmed Wagueeh, and Fatimah El Shenawy, Khazna aims provides financial services like credit, BNPL options, and bill payments to underbanked Egyptians.

The company previously raised US$38 million in equity and debt during its series A round in March 2020.