Alsoug announced that it has received $5,000,000 in a round of funding co- led by new investor Fawry for Banking Technology and Electronic Payments S.A.E. and established Western venture capital funds on October 12, 2021. The company issued common shares in the transaction. The transaction included participation from investment institutions in the markets of Europe and the United States of America. Fawry for Banking Technology and Electronic Payments S.A.E. acquired a non-controlling minority stake in company.