Egyptian fintech company octo has joined the European Bank for Reconstruction and Development’s (EBRD) Star Venture program, giving it access to tailored advisory support and a network of experts, mentors and investors as it works toward its next phase of growth.
The 24-month program supports high-potential startups through operational and strategic guidance rather than direct funding alone. According to the announcement, participating companies receive support to identify business gaps, develop growth plans and strengthen their commercial, financial and investment readiness.
Karl Marco, octo’s co-founder and CEO, said the program would help the company improve its business model and prepare for expansion. He added that the company plans to use the program’s expertise to strengthen its operational, commercial and investment capabilities.
Star Venture supports startups across more than 30 markets where the EBRD operates, including the Southern and Eastern Mediterranean, the Western Balkans, Central Asia, Eastern Europe and the Caucasus, Turkey, and recently Sub-Saharan Africa.
Since launching in 2019, the program has directly supported more than 400 startups and over 40 accelerators. The EBRD said 73% of startups in its portfolio raised funding during or after the program, with total funding exceeding $850M.
Founded in 2021, octo develops digital payment and financial services solutions in Egypt. Its app supports money transfers, payments, card management and bill settlement, alongside payroll and other services for individuals and businesses.
Source: El Eqtesad News
