Fintech startup KIWE closes first investment round to drive up its growth

EGYPTKIWE, an Egyptian fintech startup, has closed its first investment round, to drive the startup’s growth by utilising the offerings of its investors.

The round was led by dfin Holding with participation from EFG Hermes, Marakez for Development, and a group of angel investors. The investment will be used

“We are strong believers of empowering freelancers and business owners by helping them identify their targets, level up their customer experience and accept online and offline payments,” part of a statement by the company said.

“Our vision is for KIWE to become a verb interchangeable with any word that speaks payments. We strive to have our customers reach out to their phones instinctively whenever a receipt is printed, a cheque arrives at the table, or a friend’s pay-back is due.”

Founded in March 2021 by Fatma Khalifa, Omar Kamel and Mohamed Khalifa, KIWE is a peer-to-peer money exchange app that allows its users to transfer money to each other in real-time.

The startup said in a statement that it was on a “quest” to create a cashless ecosystem through a comprehensive merchants network, providing customers with the safest and simplest payment experience.

“Through this strategic consortium of investors, we target to catapult the growth of KIWE by deploying dfins’ tech-based financial services portfolio, utilising EFGs’ Valu as a key payment method, and rolling out across Marakez’s portfolio of commercial and residential projects – a perfect fit to help drive our mission towards a stronger e-payments future,” the startup said.

Digital Finance Holding (dfin) is a tech-based financial services platform. EFG Hermes is one of Mena’s largest financial services companies. Marakez is a leading mixed-used developer in Egypt, with a growing portfolio of commercial and residential projects.

DFin Holding, licensed by the Financial Supervisory Authority (FRA), has announced the launch of the FinTech platform for financial technology, the first of its kind for digital financial services that focuses on building and financing the next generation of technology-based startups. In Egypt and the region.

The company commended the positive developments in the legal and regulatory framework and the efforts made by the Central Bank of Egypt (CBE) and the Financial Supervision Authority (FRA) to formalize FinTech and its applications, especially with regard to financial inclusion, the transition to cashless societies and the promotion of efficient and flexible financial transactions.

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