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Nclude is a fintech-focused venture capital investment platform based in Cairo, Egypt, supporting early and growth stage entrepreneurs tackling financial inclusion. Established in 2022 with backing from Egypt's major commercial banks, it has approximately $105 million in assets under management and is the largest fintech-focused fund in Africa.
46% of their portfolio is in Fintech. Average disclosed round size is $17.7M (across 12 rounds with reported amounts).
Portfolio
9
Fund Size
$105M
Top Stage
Series B
Last 12 Mo
0
Team
BM
Basil Moftah
Managing Partner
KT
Kurtis Trevan
Managing Partner
AO
Alexandra Orzeck
Strategic Operating Partner
Portfolio Breakdown
Stage Distribution
Sector Distribution
Investment Activity
DealsAvg Round Size
Portfolio
13 investments
| Company | Round | Amount | Date |
|---|---|---|---|
 Khazna | Series B | $16M | Jan 2025 |
 FlapKap | Seed | $3.6M | Oct 2022 |
 Partment | Pre-Seed | $1.5M | Sep 2022 |
 Paymob | Series B | $50M | May 2022 |
 OneOrder | Pre-Seed | — | Feb 2022 |
| OneOrder | Series A | $3M | Jan 2022 |
| Partment | Pre-Seed | $1.5M | Jan 2022 |
 Lucky | Series A | $25M | Jan 2022 |
| Paymob | Series B | $22M | Jan 2021 |
 Lucky | Series A | $25M | — |
| GGrinta | Unknown | $8M | — |
| FlapKap | Series A | $34M | — |
| LLucky App | Series B | $23M | — |
Top Co-Investors
A158 shared
Disruptech4 shared
Endeavor3 shared
PayPal Ventures2 shared
British International Investment2 shared
FMO2 shared
Digitalis Ventures2 shared
QED Investors2 shared
Arzan Venture Capital2 shared
PayU2 shared
VentureSouq2 shared
Norrsken222 shared
Earlybird Venture Capital1 shared
Kora Management LP1 shared
Globo Ventures1 shared
Outliers1 shared
500 Global1 shared
Delivery Hero Ventures1 shared
BECO Capital1 shared
Pact VC1 shared
Last updated: 20 October 2026