Egypt’s MoneyHash closes US$3M pre-seed round to expand operations

EGYPT – Egyptian fintech startup MoneyHash has announced a US$3 million pre-seed funding round as it emerges from beta to facilitate revenue and payment operations across the Middle East and Africa. The round was led by UAE-based venture capital firm COTU Ventures, with the participation of MENA fintech fund VentureSouq and European fund VentureFriends, among others. The funding comes as…

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Fintech company Fawry plans to raise US$50m capital boost, seeks to list on US stock market

EGYPT – Fawry, an online payment company, has announced its plans to raise EGP 800 million (US$50.93m) of growth capital through a rights issue to existing shareholders. The proceeds will be used to fund a new chapter of expansions in financial services for both consumers and merchants. In addition to growing the Company’s offerings on MyFawry, the offering will help…

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Fintech Fawry partners GoDaddy Inc.to provide startups with unique services and tools

EGYPT – GoDaddy Inc., a company that empowers everyday entrepreneurs, has partnered with Fawry, an online payment company, to facilitate the process of going online for startups and entrepreneurs in Egypt. In partnership with Fawry, GoDaddy will provide startups and entrepreneurs with unique services and tools, including GoDaddy E-store, to successfully build their digital presence, aiming at helping them attract…

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Fintech Fawry invests in Sudan’s alsoug to build new fintech platform

EGYPT – Fawry, a provider of e- payments solutions and digital banking services, has announced that it has finalized an investment in alsoug.com, Sudan’s largest online classifieds platform and marketplace, to help build out alsoug’s new fintech platform, Cashi. Fawry has acquired a strategic minority stake in the alsoug.com/Cashi holding company, marking the Company’s first venture capital investment outside of…

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Fawry provides funding and acquires minority stake of commerce startup Brimore

EGYPT – Brimore, a social commerce startup, has raised funding from e-payments solutions and banking services provider Fawry, the North African country’s first startup “unicorn”, as part of its upcoming Series A round. Brimore raised a US$3.5 million pre-Series A round last year and has now announced that it has finalised an investment from Fawry, which has acquired a minority…

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Fintech company Fawry tops as most powerful financial technology applications – Forbes MEA

MEA – Fawry, a fintech company, has announced that its application ‘myFawry’ topped the list of the 15 most powerful financial technology applications in the Middle East for the year 2021, according to a report published by Forbes Middle East magazine. According to the report, the mobile application had more than 1.6 million downloads during the past year. “In view…

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Fawry expands its Heya Fawry initiative to increase women’s access to digital financial services

EGYPT – Fawry, a digital transformation and e-payment network, has announced the expansion of the ‘Heya Fawry’ initiative to increase poor and disadvantaged women’s access to life-enhancing digital financial services and greater economic opportunities. Heya-Fawry is an initiative in collaboration with the Arab women enterprise fund, Baheya, AXA and Unilever to empower women, increase their opportunities in the financial market…

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