Egyptian fintech startup PayMint has secured a seven-figure US dollar seed investment to support its expansion plans in its home market.
Launched in 2019 by Mohamed Yahya and Mohamed Rabie, PayMint provides financial technology services to SMEs, including salary payments, working capital financing and supplier payments.
The seven-figure seed round comes from AUR Fintech – a subsidiary of AUR Capital – and will be used by the startup to support its expansion plans within the Egyptian market, expanding the scope of its services.
“We are so proud of our partnership with AUR Fintech,” said Rabie, PayMint’s CEO. “We are looking forward to utilising this round in our expansion plan to enhance our fintech services for SMEs and provide a wide range of microfinance, in addition to bill payments.”