Egyptian digital payments company octo has joined the European Bank for Reconstruction and Development’s (EBRD) Star Venture program, gaining access to tailored advisory support, international expertise and investor and mentor networks as it prepares for its next phase of growth.
The 24-month program supports high-potential startups by identifying business and operational gaps and developing tailored growth plans, with assistance covering financing, product development, sales, marketing, governance, strategy and fundraising readiness.
Since its launch in 2019, Star Venture has supported more than 400 startups and over 40 business accelerators across more than 30 markets where the EBRD operates, including the Southern and Eastern Mediterranean, Central Asia, Eastern Europe, the Caucasus, Türkiye and Sub-Saharan Africa.
EBRD data shows that 73% of startups in the Star Venture portfolio secured funding during or after the program, raising a combined total of more than $850 million. Average revenue across the portfolio increased sixfold, while 76% of participating companies recorded revenue growth.
The program assesses the needs and challenges of participating companies before developing advisory projects, connecting startups with local and international experts, mentors and investors.
Its support also includes fundraising preparation and engagement with venture capital investors, alongside practical assistance in areas such as sales development, governance, marketing and business strategy.
Karl Marko, Co-Founder and CEO of octo Digital Payments, said the company would use the expertise and networks available through the program to develop its business model and strengthen its readiness for expansion.
Founded in 2021, octo provides digital payment and financial services for individuals and businesses, including money transfers, payments, card management, bill payments and payroll-related solutions.
