# SANAD Fund

> SANAD Fund is a VC fund in Frankfurt backing E-Commerce and Financial Services. See 11 investments, check sizes, portfolio. Updated Aug 2026.

- Type: VC Fund
- Location: Frankfurt, Germany
- Total investments: 11
- Last investment: Jun 2026
- Lead investor: 36%
- Last updated: Aug 2026
- Website: http://www.sanad.lu/

SANAD Fund is a VC fund in Frankfurt focused on E-Commerce and Financial Services. The SANAD* Fund for MSME views the micro, small and medium enterprise sector as an engine of economic development, job creation and prosperity in the Middle East and North Africa (MENA). This also makes it a vast and as yet untapped investment opportunity.To realize this potential, SANAD provides debt and equity financing to local partnerinstitutions for on-lending to micro, small and medium enterprises (MSMEs) and fueling their growth.

## Round sizes

| Stage | Round size |
| --- | --- |
| Series A | $4M–$13M |
| Venture - Series Unknown | $5M–$17M |

## Investment focus

### Industry

| Industry | Investments | Share |
| --- | --- | --- |
| E-Commerce | 3 | 27% |
| Financial Services | 3 | 27% |
| FinTech | 2 | 18% |
| Finance | 2 | 18% |
| Apps | 1 | 9% |

20 industries tracked in total.

### Stage

| Stage | Investments | Share |
| --- | --- | --- |
| Series A | 3 | 27% |
| Venture - Series Unknown | 2 | 18% |
| Pre-Seed | 1 | 9% |
| Series B | 1 | 9% |
| Series C | 1 | 9% |

7 stages tracked in total.

### Country

| Country | Investments | Share |
| --- | --- | --- |
| Egypt | 5 | 45% |
| Jordan | 2 | 18% |
| Kenya | 1 | 9% |
| Mauritius | 1 | 9% |

## Investments

| Company | Description | Amount | Stage | Date | Website |
| --- | --- | --- | --- | --- | --- |
| Blnk | Blnk is a fintech firm that provides lending, financing, affordability, commission, reporting and settlement, and e-commerce services. | $12.5M | Series A | Jun 08, 2026 |  |
| Capital Bank Group | Capital Bank of Jordan they are specialized in serving corporate, SME, and high-end retail customers, combining the service range of commercial and investment banking. | $135M | Post-IPO Debt | Oct 27, 2025 |  |
| Beltone Leasing and Factoring | Beltone Leasing and Factoring platform enables companies to unlock critical growth capital and accelerate cashflows through tailored, convenient solutions, and advisory service with confidence that supports long term relationships | $20M | Debt Financing | Jun 22, 2025 |  |
| Djamo | Djamo is a Provider of financial applications to allow customers to use their cards with zero fees in a wide range of services. | $17M | Venture - Series Unknown | Apr 03, 2025 |  |
| Khazna | Khazna is an Egyptian company that aims to improve and expand financial services for Egyptians through the mobile application. | $16M | Series B | Feb 04, 2025 |  |
| Cartona | Cartona is a B2b marketplace directly connects retailers with suppliers | $5.6M | Series A | Jul 30, 2024 |  |
| Cartona | Cartona is a B2b marketplace directly connects retailers with suppliers | $12M | Series A | Jul 25, 2022 |  |
| POSRocket | Traditional cash registers are a thing of the past. POSRocket modernizes this near-obsolete system by providing business owners with an intuitive, user-friendly, cloud-based point-of-sale (POS) platform. | $5M | Venture - Series Unknown | Aug 04, 2021 |  |
| POSRocket | Traditional cash registers are a thing of the past. POSRocket modernizes this near-obsolete system by providing business owners with an intuitive, user-friendly, cloud-based point-of-sale (POS) platform. | $5M | Series C | Aug 04, 2021 |  |
| Sky.Garden | Sky.Garden is a SaaS ecommerce platform that allows African retailers to sell inventory with ease. Sky.Garden gives back control to the individual retailer by allowing inventory control and immediate payment reconciliation in an automated platform, where local shipping and payment options come out-of-the-box. | $4M | Series A | Jun 14, 2021 |  |

10 of 11 investments shown.

## Co-investors
- [Algebra Ventures](https://shizune.co/investors/profile/algebra-ventures) — VC Fund, 5 deals together
- [Khwarizmi Ventures](https://shizune.co/investors/profile/khwarizmi-ventures) — VC Fund, 3 deals together
- [Edgo VC](https://shizune.co/investors/profile/edgo-vc) — VC Fund, 2 deals together
- [Etihad Bank](https://shizune.co/investors/profile/etihad-bank) — VC Fund, 2 deals together
- [Green for Growth Fund](https://shizune.co/investors/profile/green-for-growth-fund) — VC Fund, 2 deals together
- [Innovative Startups and SME’s Fund (ISSF)](https://shizune.co/investors/profile/innovative-startups-and-sme-s-fund-issf) — VC Fund, 2 deals together

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## Featured in investor lists
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## FAQ

### What does SANAD Fund invest in?

SANAD Fund invests primarily in E-Commerce, Financial Services and FinTech startups, most often at Series A and Venture - Series Unknown stage. Most of the 11 investments tracked by Shizune back companies in Egypt. The Investment Focus section breaks down every industry, stage and country in the portfolio.

### What is SANAD Fund's check size?

SANAD Fund typically joins rounds of $4M–$13M at Series A and $5M–$17M at Venture - Series Unknown. These ranges are 10th–90th percentile round sizes calculated from confirmed public funding rounds, so they are a realistic guide to the rounds SANAD Fund participates in.

### When did SANAD Fund last invest?

The most recent investment recorded for SANAD Fund closed in Jun 2026. Shizune tracks 11 investments in total for this profile, including round sizes, stages and portfolio companies, all sourced from confirmed public funding rounds and refreshed monthly.

### Is Shizune's investor data accurate?

Yes — every stat on this profile is calculated from confirmed public funding rounds monitored across hundreds of sources since 2020. This profile was last refreshed in Aug 2026 and is updated monthly. Spotted something off? Use the “Suggest an edit” link near the top of the page.

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