Egyptian fintech startup Kashier Funds has raised a seed spherical of funding to assist it scale up its go-to-market technique, develop its crew, and introduce new merchandise.
Based in 2017 by Khaled Raslan, Mohamed Hossam and Mohamed Mohsen, Kashier launched its on-line fee acceptance providers final yr, and entered into strategic partnerships with two of Egypt’s main buying banks.
The startup gives companies with a unified funds platform that enables them to make and obtain funds to and from prospects, distributors, and companions by way of a wide range of fee strategies and channels.
Kashier’s undisclosed seed spherical is led by Glint Ventures, with participation from a bunch of strategic buyers, and will probably be used to assist the startup purchase extra prospects and scale its providing.
“Our aim at Kashier is to empower Egyptian businesses by facilitating their process of joining the digital economy, which in turn will lead to the long-term growth and sustainability of their business,” stated Khaled Raslan, the startup’s chief government officer (CEO).
“The current global pandemic in addition to the Central Bank of Egypt’s commitment to financial inclusion have caused a major structural shift in the market towards electronic payments, and Kashier’s robust technology is perfectly positioned to capture and handle the increased demand for digital payments. We are excited to be joined by our investors who share our vision for a more digital and inclusive economy.”
Tarek Aboualam, managing associate at Glint Ventures, stated fintech corporations had been already disrupting and reshaping the world of monetary providers.
“We are excited about this investment that would address the electronic payment needs of Egyptian businesses, reinforce the digitisation of the economy and help bridge the fintech gap,” he stated.