Egypt
Flutterwave Secures Payments Licenses in Egypt for North Africa Expansion
Nigerian payments company Flutterwave announced that it has received its Payment Services Provider and Payments Facilitator licenses in Egypt. This will enable Flutterwave to collect payments on behalf of its customers and settle payments locally and globally. The company will
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Egyptian Fintech MNT-Halan Gets Unicorn Badge With US$400 Million Raise
Egyptian fintech MNT-Halan announced that it has raised up to US$400 million in equity and debt financing, pushing its valuation to over US$1 billion. The funds came from Chimera Abu Dhabi which has invested more than US$200 million in equity
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Dubai Accounting Startup Wafeq Raises $3 Million Seed Round
Wafeq, a modern and easy-to-use accounting platform, has announced the completion of its $3 million seed round. The Dubai headquartered company’s seed round was led by Raed Ventures and saw participation from Wamda Capital, both of which are two of
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Jordan, Iraq, Egypt Central Banks Collaborate With Buna for Pension Payments
The central banks of Iraq, Jordan, and Egypt has leveraged Buna, a cross-border payment system operated by Arab Regional Payments Clearing and Settlement Organization (ARPCSO) owned by the Arab Monetary Fund, to make pension payouts easier. The initial phase will
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Egypt’s New Financial Inclusion Strategy
The Central Bank of Egypt (CBE) has launched its Financial Inclusion Strategy 2022-2025, a national development plan focusing on expanding access to financial services, developing financial literacy and facilitating the introduction of innovative financial products that meet consumers as well
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Report Details 11 Fintech Regulatory Sandboxes in MENA in 2022
The MENA Fintech Association’s (MFTA) Open Finance Working Group has published a new report on the rise of open banking and embedded finance in the Middle East and North Africa. The report found that regulators in the region have been
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Blnk Raises US$32M Led by Abu Dhabi’s EIIC and Sawari Ventures
Egyptian consumer credit platform Blnk has raised US$23.7 million in equity and debt funding, and US$8.3 million in securitised bond issuance underwritten by National Bank of Egypt and Banque du Caire. The US$12.5 million equity round was led by Abu
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Egypt Money App Telda Raises US$20M Seed Round Led By Global Founders Capital
Cairo-based Gen Z money app Telda has raised US$20 million in seed funding led by Global Founders Capital with participation from Sequoia Capital and new investor Block, Inc. According to TechCrunch, Telda aspires to be a digital bank but it
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Mastercard Invests in Egyptian VC Firm Nclude
Mastercard has invested in Nclude, a fintech-focused VC investment platform launched in partnership with Egyptian banks Banque Misr, Banque Du Caire and the National Bank of Egypt. Founded in 2022, the company has received US$100 million in funding from the
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Top 8 MENA Fintech Funding Rounds With Corporate VC Investment in H1 2022
Corporate venture capital (CVC) deals declined on the whole in terms of number and volume in the first half of 2022, though the average deal size increased to US$35 million in the second quarter of the year. This is according
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