Egyptian fintech startup Kashier raises seed funding round

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Egyptian fintech startup Kashier Payments has raised a seed round of funding to help it scale up its go-to-market strategy, grow its team, and introduce new products.

Founded in 2017 by Khaled Raslan, Mohamed Hossam and Mohamed Mohsen, Kashier launched its online payment acceptance services last year, and entered into strategic partnerships with two of Egypt’s leading acquiring banks.

The startup provides businesses with a unified payments platform that allows them to make and receive payments to and from customers, vendors, and partners via a variety of payment methods and channels.

Kashier’s undisclosed seed round is led by Glint Ventures, with participation from a group of strategic investors, and will be used to help the startup acquire more customers and scale its offering.

“Our aim at Kashier is to empower Egyptian businesses by facilitating their process of joining the digital economy, which in turn will lead to the long-term growth and sustainability of their business,” said Khaled Raslan, the startup’s chief executive officer (CEO). 

“The current global pandemic in addition to the Central Bank of Egypt’s commitment to financial inclusion have caused a major structural shift in the market towards electronic payments, and Kashier’s robust technology is perfectly positioned to capture and handle the increased demand for digital payments. We are excited to be joined by our investors who share our vision for a more digital and inclusive economy.”

Tarek Aboualam, managing partner at Glint Ventures, said fintech companies were already disrupting and reshaping the world of financial services.

“We are excited about this investment that would address the electronic payment needs of Egyptian businesses, reinforce the digitisation of the economy and help bridge the fintech gap,” he said.

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Passionate about the vibrant tech startups scene in Africa, Tom can usually be found sniffing out the continent's most exciting new companies and entrepreneurs, funding rounds and any other developments within the growing ecosystem.

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