Proparco Commits €600,000 Equity Investment to Sudanese Fintech Cashi

KHARTOUM — French development finance institution Proparco has completed a €600,000 ($650,000) equity investment into Sudanese fintech startup Cashi.

The transaction represents Proparco's first direct financing operation in Sudan. The capital deployment supports Cashi’s operational expansion in fragile, conflict-affected markets, facilitating reliable digital payments, cash agent network operations, and humanitarian aid distribution amid severe banking disruption and network instability.

Operational Footprint & Technology Architecture

Founded in 2022 by the team behind alsoug.com, Sudan's primary online marketplace, Cashi operates an alternative financial services infrastructure designed to bypass conventional banking failures:

• Digital Ecosystem & Reach: Serves over 2.2 million registered users through its flagship digital wallet, MyCashi, alongside a nationwide network of merchant cash-in/cash-out points.
• Offline & Multi-Channel Protocols: Developed proprietary non-app transaction solutions, including USSD, SMS routing, and offline smart cards, to maintain payment execution and aid disbursements during telecommunication blackouts and cash shortages.
• Humanitarian & SME Infrastructure: Facilitates direct emergency cash transfers for non-governmental organizations while providing merchant payment processing for local small businesses across underserved regions.

Strategic Mandate & Market Context

The funding addresses acute financial exclusion in Sudan's disrupted economic environment:

• Development Finance Allocation: Aligns with Proparco’s mandate to fund high-impact African private sector enterprises operating in fragile and conflict-affected states.
• Financial Access Deficit: Mitigates structural cash liquidity constraints and widespread bank branch closures, providing critical transaction pipes for civilian livelihoods and micro-entrepreneurs.

Executive Commentary

"Through this financing, Proparco is proud to support Cashi, an innovative African company developing practical solutions to address critical needs on the ground. This first operation in Sudan reflects our commitment to supporting entrepreneurship and financial inclusion, including in the most challenging environments."
— Guillaume Barberousse, Global Head of Investment at Proparco

"In Sudan today, being able to send, receive or withdraw money can decide how a family gets through the month, or whether a small shop stays open. When the banks were unavailable during the war, Cashi stayed open and available. We built it to keep working when cash runs short and the network drops. Millions more across Sudan still have no bank account and no ATM nearby. Where you live should not decide whether you can get paid, pay a bill or send money home."
— Tarneem Saeed, CEO of Cashi

Transaction Advisory

• Investor: Proparco (€600,000 Equity Investment).
• Target Company: Cashi (Alsoug Group).

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