Egypt’s Fintech Hollydesk Secures $1 Million in Venture Debt Financing

Armed with the new funding the startup will be able to support more small and medium-sized businesses (SMBs) in the country to manage and track their daily expenses. The fintech startup will also deploy the funding to expand Hollydesk’s offerings and reach more companies needing efficient expense management solutions.

Founded in 2020 by Mahmoud Moussa, Hollydesk has already helped hundreds of companies save time, reduce fraud, and manage their expenses more effectively. In 2022 alone, companies using Hollydesk spent EGP130 million through the platform. Hollydesk provides a suite of tools that allow companies to easily track and manage expenses, automate approval workflows, and generate reports to analyze spending patterns.