FinTech News
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Egyptian unicorn MNT-Halan acquires Tam Finans to expand into Türkiye
Egypt's largest non-bank financial institution and fintech company, MNT-Halan, has acquired Tam Finans, marking its expansion into Türkiye.
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Egypt's Banknbox join forces with CSC Jordan to drive financial inclusion
Egypt-based fintech Banknbox has partnered with CSC Jordan to drive financial inclusion and offer joint advanced services to customers.
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MNT-Halan secures $157.5m to fuel expansion beyond Egypt
MNT-Halan, a standout in Egypt’s FinTech landscape and the country’s first unicorn, has recently completed a significant funding round.
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Egypt’s Dopay secures $13.5 million Series A extension round
Egypt-headquartered fintech Dopay has closed a $13.5 million Series A extension round, topping up a previous $18 million Series A round raised in 2021
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Mobile wallet transactions in Egypt surge 112% YoY in 2023
This increase paralleled a 30% rise in the number of mobile wallet accounts, totaling 39.4 million at the end of December.
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Egypt-Based Fintech Connect Money Secures $8 Million
The investment will support the company's efforts to expand its platform, with a focus on North Africa.
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Value of Egypt’s electronic payments, collections services reaches LE 2.5tn in 11 months
The electronic payment service for workers' salaries in the country saw a growth rate of 24 percent, amounting to LE 299.4 billion.
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Smart cards manufacturer MDP plans to invest $2 mln in Egyptian market
Smart issuing and payment processing warehouse MDP plans to inject new investments worth $2 million into the Egyptian market.
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Egyptian investtech startup Bokra plans swift Saudi, UAE expansion post-launch
It is the first platform to offer goal-based investment and saving products through asset-backed securities.
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HSBC to back fintech in Egypt with $31 million fund
HSBC Egypt is planning to launch a fund worth EGP 1.5 billion ($31.5 million) to back the fintech sector in the North African country.
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Egypt’s Sahl closes dual rounds at $6 million
Sahl's strategic vision is to become the dominant player in facilitating digital payment transactions within Egypt's booming EGP 2.5 trillion sector.
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Banknbox expands fintech partnerships across 8 countries
Banknbox offers a suite of internally developed digital services, ensuring flexibility, compatibility with customer needs, and cost-effective delivery
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CBE welcomes Kenyan delegation to discuss instant payment innovations
This visit was part of a broader initiative to share Egypt’s pioneering efforts in developing the Instant Payment Network (IPN) and the InstaPay app.
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Valu launches Ulter: Egypt’s first high-end payment solution
Valu has partnered with top-tier merchants in the luxury space to provide customers with a seamless financing experience.
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InstaPay introduces new feature for easier money transfer
The new feature enables the beneficiary to share the QR Code to the other party wishing to transfer the money.
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7 Updates in the Egyptian fintech industry
The fintech sector in Egypt is experiencing rapid growth and transformation, with several significant developments shaping the future of finance.
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Egypt registers 3rd largest volume of real-time payments in Africa in 2023
By 2028, real-time payments are predicted to account for more than one-third of payments in the country.
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Egypt's EFG Hermes acquires minority stake in Danish fintech Kenzi Wealth
The acquisition of a minority stake in Kenzi Wealth represents EFG Hermes’ significant commitment to driving innovation in the fintech sector.
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Payments Fintech Foodics Establishes New Location in Cairo as Part of Expansion Plan into Egyptian Markets
Foodics, the provider of restaurant management and financial tech solutions in the MENA region, has officially inaugurated its new office in New Cairo
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MNZL raises $3.5m to enhance asset-backed lending in Egypt
MNZL, a FinTech startup, has raised $3.5 million to revolutionise asset-backed lending in Egypt and across the MEA region.