About

Balad, an Egyptian fintech company, raised a seven-figure pre-Seed round led by Acasia Ventures with participation from Launch Africa, Future Africa, V&R, Magic Fund, First Circle, Sunny Side, and several family offices. Launched in 2022 by Adham Azzam, Sally Asaad, and Mohamed Assem, Balad specializes in providing financial services driven by remittances, specifically targeting migrants and their families. The startup offers reduced transfer fees and instant delivery of inward remittances through Balad prepaid cards. The investment will be used for the launch of Balad’s remittance platform, technology development, team expansion, license acquisition, and banking partner integration.