Two Ugandan Startups Selected in COREangel's $10M Fintech Investment Drive
COREangels MEA, a regional investment network, has unveiled a $10 million fund aimed at bolstering early-stage tech startups across the Middle East and Africa. The initiative, developed in collaboration with PTS Holdings and the Arab Academy for Science, targets startups with a strong focus on financial technology.
The fund was formally launched during the group's 5th Investment Committee forum in Cairo, where five promising startups were selected from more than 1,000 applicants. Each startup will receive up to $150,000 in seed funding, alongside strategic mentorship and technical support.
“We don’t just inject funds, we believe in building comprehensive ecosystems. COREangels MEA brings capital, capability, and community support to the region’s most promising founders,” said Maha Mandour, Chairperson of PTS Holdings and Founding Partner of COREangels MEA.
The selected startups include: eMaisha Pay from Uganda, which offers microloans, crop insurance, and savings tools for smallholder farmers. RentBeta from Uganda, which provides automated rent management systems for landlords and tenants. Aqua Offers from Egypt, which combines loyalty rewards and real-time savings through customer engagement tools. Monak from the MENA region, which delivers bundled financial and health services to migrant workers. And lastly, Reeple from Nigeria, which facilitates international payments for freelancers and remote workers.
The selection was managed by Kemtix Ventures, the innovation arm of PTS Holdings, which evaluates startups based on scalability and impact potential.
COREangels MEA blends local entrepreneurial support with international capital through a hybrid investment model. Co-Founder Mandour described the fund as "an ecosystem that merges smart capital with hands-on guidance to scale purpose-driven startups."
The forum drew over 100 stakeholders from across Africa and the Middle East, including COREangels International President Rui Falcão, who emphasized building a cross-border innovation community.
“COREangels MEA is more than a fund. It is a trusted and secure bridge connecting regional innovation with smart, sustainable global investment opportunities,” said Rui.
The event also marked the signing of an MoU between PTS Holdings and the Arab Academy to enhance institutional support for early-stage entrepreneurs in the region.