Egyptian fintech startup KlickIt raises funding to additional develop platform

Egyptian charges administration and digital assortment platform KlickIt has introduced the closing of its first funding spherical, which it’ll use to additional develop its platform.

Based in 2017, KlickIt is a fee administration and digital assortment platform pushed by a plug-and-play ethic. The platform acts as a digital funds transformation accomplice to private and non-private instructional entities in Egypt and globally via its built-in methods that digitise and facilitate end-to-end fee processes. 

So far, KlickIt efficiently processed EGP500 million (US$31.8 million) and the startup is the accomplice of alternative for over 55,000 instructional entities, together with outstanding institutes, faculties, and nurseries.

It’s now focusing on additional progress after taking up its first exterior capital, with commitments from EFG Finance and Camel Ventures, the enterprise capital arm of dfin Holding. The primary goal of the funding is to construct and improve KlickIt’s tech stack, and to construct and deploy worth added companies to cross-sell new companies for the corporate’s massive community of faculties and universities, in addition to their quickly rising buyer base.

“We’re very proud to be backed by substantial entities like EFG Finance and dfin’s Camel Ventures, and we thank our traders for his or her continued help and belief in us,” mentioned Saeed Talaat, co-founder and chief government officer (CEO) of KlickIt. 

“With this funding spherical, we look ahead to solidifying our tech stack and scaling our companies. Our partnerships during the last yr with GEMS, Banque Misr, and most not too long ago the Egyptian Ministry of Training, have been important to our progress, and we plan on leveraging these experiences to spearhead the subsequent chapter in our journey.”

Walid Hassouna, CEO at EFG Finance, mentioned he was proud to be investing in KlickIt and backing its staff. 

“They’ve been proving their dedication, grit, and talent to beat challenges and to crack a extremely profitable market. We imagine the way forward for availing financing via valU on Klickit will present very good and accessible companies to their buyer base and assist catalyze the expansion of the corporate,” he mentioned.

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