Tagged: egypt

Middle East’s Tabby, a Payments and Shopping App, Teams Up with Paymob

Tabby, the Middle East’s payments and shopping app, and Paymob, the omni-channel payments facilitator in MENAP, announced their partnership “to fuel growth for retailers in Egypt by enabling businesses across Paymob’s network to benefit from Tabby’s split in four, interest and fee-free payment solution via… Read More

Central Bank of Egypt Selects Acumen.plus, the Treasury Platform for Compliance, Automation

Profile Software, which claims to be a leading financial solutions provider, has announced that the Central Bank of Egypt (CBE) has selected Acumen.plus, the internationally implemented Treasury Management System, “to effectively manage and streamline their operations whilst experiencing compliance and powerful reporting for reserve and… Read More

MENA’s BNPL Firm valU Acquires Fintech Paynas

valU, MENA’s Buy-Now, Pay-Later (BNPL) lifestyle-enabling fintech platform, announced that it “acquired 100% of Paynas, a full-fledged employee management and benefits company that provides financial services to micro, small, and medium enterprises (MSME) in a signing ceremony attended by Dr. Rania A. Al-Mashat, Minister of… Read More

BNPL: Amazon Egypt Introduces valU’s Buy Now Pay Later Services in Egypt

As part of Amazon Egypt’s ongoing commitment to improve its shopping experience and offer clients in the country with flexible and affordable payment options, Amazon Egypt (amazon.eg) is offering installment plans via valU, the Buy-Now, Pay-Later (BNPL) lifestyle-enabling Fintech in MENA, a subsidiary of EFG… Read More

Fintech Fund in Egypt Receives Investment from AXIAN Group

The AXIAN Group recently revealed that it has joined Disruptech Egypt Fund I, which is a venture capital fund focused on supporting technology-enabled firms and Fintech startups in Egypt. Disruptech Egypt Fund I is a VC fund dedicated to further developing Egypt’s financial-technologies sector by… Read More

Egyptian Fintech Firm PayMint Finalizes Seed Round

PayMint, the Egypt-headquartered Fintech firm, has closed a seed funding round (of 7 figures) from AUR Fintech-which is a subsidiary of AUR Capital, in order to support PayMint’s business expansion plan in Fintech and SMEs’ financial inclusion in Egyptian markets. PayMint introduced its services back… Read More

Egypt based Fintech Lucky, a Provider of Credit Products, Secures $25M via Series A

Lucky, Egypt’s app for credit products, offers and cashback rewards, announced its completion of a $25 million funding round. The investment round, which is Egypt’s largest Fintech Series A round, has been led by Nclude by Global Ventures – the new Fintech fund announced by… Read More

Egypt’s Largest Banks Lead Investment in Fintech Fund

Egypt’s largest national banking institutions – Banque Misr, National Bank of Egypt, and Banque du Caire – and Global Ventures, an MEA-focused VC firm – announced the launch of Nclude by Global Ventures, “following approval by the Central Bank of Egypt (CBE).” This “unprecedented” step… Read More

Fintech Investments in Egypt Surged Over 300% in Past Year: Report

Ahmed Wadi, the Founder and CEO at MoneyFellows, a Cairo-based collaborative Group Lending and Savings Platform, says that he is amazed how the Fintech space evolved over the past couple years. Wadi added that he can’t wait to see homegrown Fintechs “proving to the world… Read More

Egyptian Fintech Thndr Secures $20M to Democratize Investing in MENA Region

Thndr, the Egyptian digital investment platform, announces a new $20 million Series A investment. Thndr’s investment round was co-led by Tiger Global, BECO Capital and Prosus Ventures, in addition to participation from Base Capital, firstminute and existing investors Endure Capital, 4DX Ventures, Raba Partnerships and… Read More

Saudi Arabia based Fintech Lean Technologies Acquires $33M from Sequoia Capital, Others

Sequoia Capital has reportedly made its first investment in the Gulf / MENA region by leading an investment round for Lean Technologies, a Saudi Arabia-based Fintech company whose founders include the son of the kingdom’s former oil minister, Khalid Al-Falih. Lean Technologies, which allows firms… Read More

Global Processing Services Establishes MENA Region Office, Hires Payments Professional, Arnav Rath

Global Processing Services (GPS), the Paytech Pioneer behind major Fintech challengers, reveals that it has established its MENA region office and hired payments professional, Arnav Rath, as Head of Region. Based in Dubai, the team will focus on leveraging its international reach and payments expertise… Read More

Fintech Fund Launched by Banking Institutions in Egypt to Support Nationwide Digital Transformation Strategy

Three Egypt-based banking institutions will be establishing a 1 billion Egyptian pound Fintech fund (appr. $63.6 million) in order to offer support to Fintech firms (starting October 2021). The three banking institutions include the National Bank of Egypt, Banque Misr, and Banque du Caire, along… Read More

Fintech dopay, a B2B2C Payments Platform for Unbanked Workers, Secures $18M via Series A

dopay, a B2B2C payments platform that aims to serve 1.7 billion unbanked workers in emerging markets, has finalized an $18 million Series A round. As mentioned in a release, dopay intends to address a steady and growing demand from businesses for cashless payroll and from… Read More

Egypt based Fintech Kashat, a Micro Loan Provider, Acquires $1.75M in Capital

Egypt-based Kashat, a microloan services platform, has acquired $1.75 million in capital as part of a bridge round, according to a report from Magnitt. Kashat’s investment round has been led by VC fund Launch Africa Ventures, and also included contributions from regional investors, the report… Read More

Egypt based Microfinance Lending Firm MNT-Halan Acquires Investments from Equity Funds

Three private equity funds and a select group of VCs have reportedly invested around $120 million in Egypt-based MNT-Halan, a microfinance lending and payments firm. As noted by its management: “MNT-Halan is Egypt’s largest and fastest growing lender to the unbanked. Founded in 2018, with… Read More

Fintech-focused Corporate Accelerator Program Launched in Egypt by Arab Bank

The Arab Bank, one of the largest financial institutions in the Middle East, has launched its Fintech-focused corporate accelerator program, called “AB Accelerator,” in Egypt, after its successful launch in Jordan in 2018. The launch of this Fintech-related program in Egypt comes as part of… Read More

Fintech dopay Receives Banking Agent License via the Arab Banking Corporation or Bank ABC in Egypt

Fintech firm dopay has received a banking agent license via the Arab Banking Corporation Egypt (Bank ABC Egypt). As noted by its management: “Dopay is the Fintech innovator driving financial inclusion by making access to cashless payment solutions simple, secure, and super-fast. Today, 1.7 billion… Read More

Cairo based Fintech CreditFins, a Credit Card Management Service, Secures Funding from Flat6Labs, AUC Angels, Others

Cairo-headquartered CreditFins, a credit card management service provider, has acquired an undisclosed amount of capital via a pre-seed round. CreditFins’ investment round has been led by Flat6Labs, AUC Angels, TA Telecom Holding, along with contributions from other technology-focused angel investors. CreditFins has also graduated from… Read More

Fintech Ecosystem in Egypt being Supported by Strong MENA Region VC Investments, but Well Behind Global Standards: Report

Egypt’s venture capital investment ecosystem has become one of the most fast-evolving markets in the MENA region. It’s been expanding at a 100% CAGR during the last 5 years, according to the 2020 Egypt Venture Investment Report released by Magnitt in collaboration with Egypt’s IT… Read More

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