Tagged: egypt

April 8, 2021 @ 8:11 am By Samantha Hurst  |  

  Paymob, a Egypt-based payment platform, has raised $18.5 million through its Series A funding round, which was reportedly led by India-based VC firm Global Ventures with participation from Egyptian investment fund A15 and Dutch development bank FMO. The investment round notably comes less than a… Read More

March 29, 2021 @ 11:14 pm By Omar Faridi  |  

The International Finance Corporation (IFC), which is a member of the World Bank Group, and the Egyptian Fintech Association recently teamed up in order to support entrepreneurship in the financial technology sector. Both organizations intend to offer support to the MENA region naton’s private sector… Read More

March 11, 2021 @ 9:24 pm By Omar Faridi  |  

Egyptian Fintech firm Dayra has reportedly joined Y Combinator and has also acquired $3M in pre-seed funding. Dayra is a Cairo-headquartered Fintech company offering modern financial services to the nation’s unbanked gig economy workers and micro-businesses. Darya has reportedly joined Y Combinator’s Winter 21 batch,… Read More

March 8, 2021 @ 10:12 pm By Omar Faridi  |  

Egypt’s Fintech firm NowPay, which offers financial wellness solutions, has entered into an MoU with the Export Development Bank of Egypt (EBE). Established in 2019, NowPay has been launched to help reduce workers’ financial stress by improving the key pillars of financial wellness for employees:… Read More

December 26, 2020 @ 7:25 pm By Omar Faridi  |  

Many more Egyptians are now using online or all-digital platforms and services, and the nation’s government is planning to support the Fintech sector so that it can enhance the local economy. Saeed Talaat, an Egyptian citizen who had been working at a bank in Dubai,… Read More

October 11, 2020 @ 11:33 am By Omar Faridi  |  

The Central Bank of Egypt (CBE) has reportedly issued updated guidelines and instructions that will allow local residents and small businesses to open certain types of bank accounts under various terms and conditions. The CBE sent a letter to local banks in which it noted… Read More

September 29, 2020 @ 8:53 am By Omar Faridi  |  

Egypt’s Banque Misr, which is the nation’s second-largest commercial bank, is reportedly planning to launch an all-digital or digital-only bank during the third quarter of 2021. Akef El Maghraby, the Vice Chairman of Banque Misr, confirmed that the digital banking platform would go live next… Read More

September 21, 2020 @ 7:43 am By Omar Faridi  |  

The Financial Regulatory Authority’s (FRA) Board of Directors in Egypt has reportedly approved a draft law that aims to regulate and support the use of Fintech services in the non-banking financial sector. Mohamed Omran, Chairman at the FRA, noted that the approval will aim to… Read More

September 10, 2020 @ 12:12 pm By Omar Faridi  |  

Fawry for Banking & Payment Technology Services SAE, an Egyptian digital payments provider, was listed on Cairo’s exchange about a year back. The company recently experienced a 300% increase in its market value to 20 billion Egyptian pounds (appr. $1.3 billion). The payments firm confirmed… Read More

August 24, 2020 @ 1:49 pm By Omar Faridi  |  

The National Bank of Egypt (NBE), the country’s largest banking institution in terms of total assets, number of branches and employees, has introduced several services via its Al Ahly Net and NBE mobile app, in order to support its digital banking strategy. Hisham Okasha, chairman… Read More

August 21, 2020 @ 12:27 pm By Omar Faridi  |  

Cairo-headquartered payment company, Paymob has acquired $3.5 million in capital through an investment round that was led by Dubai’s Global Ventures and the Dutch Entrepreneurial Development Bank FMO. Existing investor A15 also took part in the round. Established in 2015 by Islam Shawky, Alain El… Read More

June 26, 2020 @ 7:12 pm By Omar Faridi  |  

Cashless transactions continue to rise globally due to the COVID-19 outbreak, which has forced many world governments to enforce lockdowns and introduce safe distancing measures. Fintech expert Mohamed Okasha, co-founder and ex-managing director of Egypt-based Fawry Banking and Payment Technology Services, introduced a $25-million “Disruptech”… Read More

June 23, 2020 @ 11:36 pm By Omar Faridi  |  

Egyptian Fintech firm MoneyFellows has secured $4 million in capital through a Series A round from Paris-based global VC company Partech and Sawari Ventures, an international VC investor. The investment has come after MoneyFellows acquired more than $1 million in funding via a pre-series A… Read More

June 13, 2020 @ 11:45 am By Omar Faridi  |  

Dubai-based Tpay Mobile, a mobile payment provider, has reportedly acquired Payguru, a Turkish payments company. The amount paid for the acquisition has not been disclosed. Payguru supports mobile payments, ATM cash payments, and standard bank transfer services. The company has integrated its platform with three… Read More

May 15, 2020 @ 9:17 pm By Omar Faridi  |  

Egypt-based online lending firm Shahry has acquired $650,000 in capital through a pre-seed investment round, in order to grow its existing loan portfolio and further expand its operations. The funding was provided by Egyptian Gulf Holding for Financial Investments, the investment division of the Egyptian… Read More

December 9, 2019 @ 12:04 am By Omar Faridi  |  

Banking software developer Temenos (SIX: TEMN) revealed on December 3 that the Egyptian National Post Organization (ENPO) has chosen its cloud-native, cloud-agnostic Temenos T24 Transact, which is described as “the next generation in core banking.” ENPO has also selected Temenos Infinity, an omnichannel online banking… Read More

May 30, 2019 @ 5:50 pm By Cali Haan  |  

The Central Bank of Egypt (CBE) has drafted a bill to allow its Board of Directors to create rules that would require all individuals, companies and/or platforms dealing in or issuing cryptocurrencies to be licensed, The Egyptian Independent reports. The rules would supplant a “fatwa”… Read More

August 13, 2018 @ 8:44 am By JD Alois  |  

Fintech software provider Temenos (SIX: TEMN) has partnered with The Venture lab at The American University in Cairo (AUC Venture Lab) a prominent startup accelerator in Africa and the MENA region. Temenos will support Fintech innovation in Egypt by providing startups with access to their core… Read More

February 14, 2018 @ 8:19 am By JD Alois  |  

The Monetary Authority of Singapore (MAS) and the Central Bank of Egypt (CBE) have announced a cooperation agreement to boost Fintech innovation between the two countries. MAS has initiated many of these bilateral agreements and is core to their strategy of being a global Fintech… Read More

December 26, 2016 @ 5:48 am By Jessica Pham  |  

Do you often get phone calls and mailers from your college alma mater asking for donations?  I do, and as a recent grad, I wonder how much help I really contribute with my puny annual $5-10 donation.  Enter crowdfunding among alumni for high school and… Read More