Sudanese Fintech Startup Cashi Secures €600,000 from Proparco

Sudanese fintech startup Cashi has secured a €600,000 equity investment from French development finance institution Proparco to strengthen its digital payment services in Sudan, where conflict, cash shortages and disruptions to banking infrastructure have made everyday financial transactions difficult.

Announced on 9 November 2026, the investment marks Proparco's first financing operation in Sudan. The funding will support Cashi's operations in fragile markets, particularly its efforts to provide accessible financial services to individuals and businesses affected by the country's economic and humanitarian crisis.

Founded in 2022 by the team behind alsoug.com, Sudan's leading online marketplace, Cashi developed a digital payment ecosystem designed to reduce dependence on conventional banking services.

Its digital wallet, MyCashi, has reached 2.2 million registered users, with particularly strong adoption among young people. The platform allows individuals and businesses to deposit and withdraw money, pay bills and transfer funds through a network of local merchants.

Payments Designed to Work During Network Disruptions

Cashi has developed several payment options to address the connectivity problems affecting parts of Sudan. In addition to its mobile wallet, the company offers USSD and SMS transactions, offline card services and other payment channels that do not depend entirely on smartphone applications or continuous internet access.

These services are particularly relevant in communities where telecommunications interruptions and limited access to banking facilities make conventional digital payments difficult.

The company also aims to support humanitarian assistance by providing payment infrastructure that can help organisations distribute funds to people affected by the conflict.

Cashi chief executive Nina Saeed said the company continued operating when banks became unavailable during the war. She noted that the ability to send, receive and withdraw money can determine whether families meet their daily needs and whether small businesses remain operational.

Proparco Makes Its First Investment in Sudan

Proparco's investment reflects its interest in supporting African businesses providing essential services in fragile and conflict-affected markets.

Guillaume Barberousse, Proparco's Global Head of Investment, said reliable financial services play an important role in supporting livelihoods and economic activity in difficult operating environments.

The €600,000 investment will strengthen Cashi's capacity to provide digital payment solutions to underserved communities while supporting local entrepreneurship and financial inclusion.

Cashi's existing 2.2 million registered users provide an indication of the demand for alternatives to conventional banking services in Sudan, where millions of people still lack access to bank accounts and nearby ATMs.