Egyptian fintech startup MNZL completes $3.5 million seed round

Egyptian fintech startup MNZL has completed a $3.5 million seed round of financing, led by P1 VENTURES, LOCALGLOBE and INGRESSIVE CAPITAL, with participation from 500 GLOBAL, FLAT6LABS, FIRST CIRCLE CAPITAL, ENZA CAPITAL, BEENOK and some anonymous angel investors. MNZL's business model allows users to convert illiquid assets, such as cars and real estate, into liquid assets and manage them through digital wallets.