Egyptian fintech startup KIWE secures funding to hurry development

Egyptian fintech startup KIWE has raised its first spherical of funding, which it’s going to use to drive its development by utilising the choices of its traders.

Based in March 2021 by Fatma Khalifa, Omar Kamel and Mohamed Khalifa, KIWE is a peer-to-peer cash trade app that permits its customers to switch cash to one another in real-time.

The startup mentioned in a press release that it was on a “quest” to create a cashless ecosystem by way of a complete retailers community, offering clients with the most secure and easiest cost expertise. 

“We’re robust believers of empowering freelancers and enterprise homeowners by serving to them determine their targets, stage up their buyer expertise and settle for on-line and offline funds. Our imaginative and prescient is for KIWE to turn out to be a verb interchangeable with any phrase that speaks funds. We attempt to have our clients attain out to their telephones instinctively each time a receipt is printed, a cheque arrives on the desk, or a pal’s pay-back is due,” the assertion mentioned.

In a bid to make {that a} actuality, the startup has taken on its first spherical of funding, led by dfin Holding with participation from EFG Hermes, Marakez for Growth, and a bunch of angel traders. The funding can be used to drive the startup’s development by utilising the choices of its traders.

“By this strategic consortium of traders, we goal to catapult the expansion of KIWE by deploying dfins’ tech-based monetary companies portfolio, utilising EFGs’ Valu as a key cost methodology, and rolling out throughout Marakez’s portfolio of business and residential initiatives – an ideal match to assist drive our mission in direction of a stronger e-payments future,” the startup mentioned.

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