Proparco backs Sudanese fintech Cashi with €600,000, its first deal in the country
What's the deal? French development finance institution ProparcoDealroom has a profile for this one. Try Dealroom → is investing €600,000 in equity into CashiDealroom has a profile for this one. Try Dealroom →, a fintech building digital payment tools for underserved African markets. It is Proparco's first financing operation in Sudan.
What does Cashi do? Founded in 2022, the company lets users deposit and withdraw cash, pay bills and transfer money through a network of local merchants, cutting reliance on conventional banking. Its digital wallet, MyCashi, has reached 2.2 million registered users, with strong adoption among young people.
Why now? Sudan's war has disrupted banking, cash distribution and payment infrastructure, while shortages and service outages make everyday transactions difficult. The country's national payment switch resumed operations in August 2026, but coverage and interoperability remain limited.
What's the endgame? Cashi has built USSD, SMS and offline card options to keep working where internet access is unreliable — tools designed to move money and distribute humanitarian aid in areas hit by network disruptions. The financing will support its operations in fragile markets, in particular Sudan.
"When the banks were unavailable during the war, Cashi stayed open and available," said chief executive officer Nina Saeed. "We built it to keep working when cash runs short and the network drops."
The signal: The deal matters less for its size than for the market it enters. Proparco calls it a first Sudan financing — a sign of development-finance appetite for essential services in a conflict-affected market, not yet evidence of a broader funding wave.
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