Sequoia leads $5m round for Egyptian digital bank Telda

Egyptian digital banking startup Telda has raised $5 million in a pre-seed funding round led by American VC giant Sequoia Capital. Global Founders Capital and Class 5 Global joined the round for Telda, which was founded just last month by former Uber engineer Youssef Sholqamy and Ahmed Sabbah, who co-founded Cairo-based ride-sharing firm Swvl.