Startup Intelligence Platform
Nclude is a venture capital firm based in Cairo, Egypt, specializing in fintech investments across the Middle East and North Africa (MENA) region. Established in 2022, Nclude aims to empower underserved individuals and businesses by supporting early and growth-stage fintech and fintech-enabled companies that deliver innovative financial solutions. The firm is backed by prominent Egyptian banks, including Banque Misr, National Bank of Egypt, and Banque du Caire, as well as financial services-focused investors such as e-Finance Investment Group, EBC, and Mastercard. Nclude has invested over $42.5 million across 12 transactions, including companies like Paymob, Khazna, Flapkap, and Connect Money. In May 2025, Nclude transitioned its management to DPI Venture Capital, a UK-based firm, to further accelerate its mission of becoming the largest fintech-focused fund in Africa, with a target capital of $150 million. This strategic move aligns with Egypt's broader efforts to promote digital transformation and financial inclusion in the region.