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Egypt: Kashier Payments Secures Seed Funding

Fintech

Sept. 23, 2020, 4:39 p.m.

Kashier Payments, a fintech startup based in Egypt, has secured an undisclosed amount of funding in a seed round led by UK-based social media marketing agency, Glint Ventures, with participation from other groups of investors.

The startup says it will use the investment proceeds to expand its operations, grow its staff, and introduce new products.

Founded by Mohamed Hossam, Mohamed Mohsen and Khaled Rasla in 2017, Kashier is an online payment platform that provides companies with tools that can accept payments from customers, vendors, and partners via a range of payment methods and channels.

Commenting on the startup, Khaled explained that, “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.

“The current global pandemic, in addition to the CBE’s commitment to financial inclusion, has caused a major structural shift in the market towards electronic payments, and Kashier’s robust technology is positioned to capture and handle the increased demand for digital payments. We are excited to join our investors who share our vision for a more digital and inclusive economy,” he added.

Managing Partner at Glint Ventures, Tarek Aboualam also said that, “FinTech companies are already disrupting and reshaping the financial services world as we know it. We are excited about this investment that would address the electronic payment needs of Egyptian businesses, reinforce the digitization of the economy, and help bridge the Fintech gap.”

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Dorcas

Dorcas Benewaa Author

Dorcas is an upcoming journalist. She loves the creative arts and loves to write about startups, digital arts and issues in the tech sector.

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