Egypt
Egypt’s Kashat Raises US$1.75m for Micro Lending App
Kashat, an Egyptian micro loan solutions provider, has raised US$1.75 million in a new bridge funding round, Magnitt reported. The round was led by pan-African VC fund Launch Africa Ventures, and had “key” regional investors participate, the report said. This
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Egyptian Super App MNT-Halan Bags US$120m
Egyptian financial and logistics super app MNT-Halan has secured US$120 million from private equity and venture capital investors, the company announced in a statement today. The funding was raised from Apis Growth Fund II by Apis Partners, Development Partners International,
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dopay Acquires Banking Licence Through Bank ABC Egypt
Payments fintech dopay has secured a banking agent licence from Bank ABC Egypt for a virtual banking platform, a statement from the company said. The collaboration will allow dopay to offer its B2B payment and banking platform for SMEs and
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Cairo Credit Management Platform CreditFins Raises Pre-Seed Funding
Cairo-based CreditFins, a credit card management fintech, has raised an undisclosed amount in pre-seed funding, the company announced. The round was led by Flat6Labs, AUC Angels, TA Telecom Holding, and other strategic tech angel investors, the company said. Meanwhile, CreditFins
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6 Fintech Startups In Egypt To Watch In 2021
Key developments in the Egyptian startup ecosystem have led to a renewed appetite for growth in the space, and for its fintech startups in Egypt as well. Much of this activity is attributed to a slew of policy level shifts.
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Egyptian Payments Firm Paymob Completes Series A Funding Of US$18.5 Million
Egypt’s digital payments provider Paymob announced that it has secured US$15 million in a second tranche of its Series A fundraising activity. It follows a first tranche of US$3.5 million, raised in July 2020. The capital raise was led by
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EFG Hermes Announces Partnership With Lulu Group International In Egypt
EFG Hermes, a financial services corporation in frontier emerging markets (FEM), announced the launch of a new partnership between its NBFI subsidiaries valU for consumer finance and PayTabs Egypt with LuLu Group International in Egypt, a Middle East hypermarket and
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Egyptian Fintech Startup NowPay Signs MOU With Export Development Bank of Egypt
Egyptian fintech startup NowPay signed a Memorandum of Understanding with the Export Development Bank of Egypt (EBE) for a credit facility to fund NowPay’s current salary advances product and future development of new products. NowPay allows corporate employees to get
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Visa Supports Egyptian Fintechs With Training Programme
Egypt’s Information Technology Industry Development Agency (ITIDA) has collaborated with Visa to launch their fintech training programme for Egyptian fintech startups and entrepreneurs. The ITIDA-VISA Mentorship Programme aims to enhance cooperation in supporting entrepreneurship, encouraging startups to develop innovative fintech
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Fintech Attracts Lion’s Share of 2020 African Tech Funding
Fintech funding in Africa jumped 49.3% in 2020 to US$160 million. The amount was raised by 99 fintech startups, making fintech the dominant tech sector of 2020, a new report by regional startup news and research portal Disrupt Africa found.
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