The use of cards, particularly prepaid ones, is on the rise in Egypt, with over 30 million in circulation, thanks to incentives introduced by fintech companies and banks. However, adoption of corporate cards among businesses has been slow due to limited access and insufficient spending controls. Fintech firms like Swypex Read more…
Egyptian group-buying platform Waffarha has secured a significant seed funding round, allocating the funds to enhance its technology infrastructure, attract talent, and expand operations beyond Saudi Arabia. Founded in 2012 by Tarek Magdy and Noha Hamdy, Waffarha offers daily discounts of up to 90% through its website and mobile app. Read more…
Egyptian fintech startup MNT-Halan has achieved unicorn status with a $400 million hybrid equity-debt financing round, valuing the company at over a billion dollars. This marks Egypt’s entry into Africa’s elite unicorn club and reflects growing investor confidence in the country’s tech sector. MNT-Halan, founded in 2017, began as a Read more…
Egyptian fintech startup MNZL has raised $3.5 million in seed funding from prominent investors like P1 Ventures, Ingressive Capital, and LocalGlobe. Their unique approach, leveraging tangible assets for secure lending, attracted support from key players in the industry. MNZL aims to revolutionize lending not only in Egypt but across Africa Read more…
Egyptian HRTech startup bluworks secured a $1 million pre-Seed investment, led by Khawarizmi Ventures with participation from Camel Ventures, Acasia Ventures, and angel investors. Founded in 2022 by Farah Osman, Hussein Wahdan, and Nour Ahmadein, bluworks offers HR and SaaS solutions tailored for blue-collar workers in sectors like retail and Read more…
This latest round of funding follows a $3 million pre-seed round in 2022 for the online payment orchestration company. A US-based Egyptian fintech startup, MoneyHash, known for its leading payment orchestration platform in the Middle East and Africa (MEA), has secured $4.5 million in seed funding, with COTU Ventures and Read more…
MoneyFellows, an Egyptian fintech platform, has secured $31 million in the first close of its Series B round, led by CommerzVentures, Middle East Venture Partners (MEVP), and Arzan Venture Capital. Other participants include Invenfin, National Investment Company (NIC), as well as existing investors like Partech, Sawari Ventures, 4DX, and P1Ventures. Read more…
In a groundbreaking move set to redefine the landscape of e-payment solutions for small and medium-sized enterprises (SMEs), BanknBox Egypt has joined forces with SWFT, a leading global payment platform. This strategic partnership aims to provide innovative and efficient e-payment solutions tailored specifically for the needs of SMEs in Egypt. Read more…
CGIAR Centers and the Academy of Scientific Research and Technology of Egypt gather representatives from agriculture and innovation for a high-level discussion on scaling agri-tech solutions for agriculture in Egypt CGIAR Centers – ICARDA, IWMI, IFPRI, and the Alliance of Bioversity International and CIAT supported by the Accelerate for Impact Platform (A4IP) – in collaboration with Read more…
The news: Safari Ventures, a Cairo-based venture capital firm, has announced plans to launch a new $150 million investment fund to support Egyptian startups. According to Hani Al Sanbati, the CEO and co-founder of the North Africa-focused investment company, the fund will go to several sectors across the country, including Read more…