Egyptian FinTech Startup Flash Secures $6 Million Funding to Accelerate Contactless Payment Expansion

Egypt’s tech ecosystem is making significant strides in achieving financial inclusion, primarily driven by the rising popularity of digital wallets and cards. Despite this progress, cash continues to dominate the payment landscape in the country. To promote digital payment adoption further, the Central Bank of Egypt is now advocating for contactless payments as an effective method to enhance financial inclusion.

Addressing this opportunity, an Egyptian cashless payments startup, Flash, aims to revolutionize the payment landscape by offering innovative solutions to consumers and businesses. Securing a $6 million seed funding round led by Addition, the venture capital firm founded by former Tiger Global executive Lee Fixel, Flash intends to accelerate product development and expand its customer and business acquisition efforts.