This post will explain fintech startups in egypt. Egypt is a rich ground for fintech development because it is one of the most populous nations in the Middle East and has one of the highest rates of unbanked citizens. According to a recent research, Egypt’s fintech industry is among those with the quickest growth rates.
Currently, there are over 40 stakeholders in Egypt’s fintech ecosystem, including 16 startups, 9 financial institutions, incubators, hubs, investors, and microfinance organisations.
Top 10 Best Fintech Startups In Egypt For 2022
In this article, you can know about fintech startups in egypt here are the details below;
Who are Egypt’s top fintech startups, then?
As the occupation is still relatively young, we believe it would be premature to declare that these are the top players. Nonetheless, we believe it would be important to highlight 10 companies that have the necessary ingredients to become the top fintech startups in Egypt and beyond.
1. 7aweshly
For young people, 7aweshly has created a mobile application tool for microsaving. Through a microsavings solution, the software aids users in reaching financial goals and purchasing their ideal products.
7aweshly strives to assist the unbanked population that banks are unable to assist because of age restrictions or other constraints. Cairo is the company’s headquarters.
2. Fawry
An e-payment network in Egypt called Fawry Fawry provides financial services to individuals and businesses through more than 90,000 locations and a number of channels. The company provides a simple and dependable way to pay bills and access other services through a variety of channels, including the internet, ATMs, mobile wallets, and retail locations. This is another fintech startups in egypt. Also check software companies in washington dc
Small grocery stores, pharmacies, stationary stores, and post offices are all part of the Fawry network of merchants. Group services, customer acquisition, electronic cash, payment facilitation, and B2B collection centres are examples of fawry services for businesses.
3. Vapulus
Vapulus is a hub for digital payments that caters to both consumers and companies.
The company offers a mobile payment processor for tablets and smartphones that can handle any tender, anywhere. A free marketing platform, hardware-free contactless payments, and a mobile point-of-sale (POS) interface are all included in the system, which provides retailers with a smooth purchasing experience. You can connect your e-wallet, debit card, or credit card accounts to the Vapulus app.
4. PayMe
In union with the National Bank of Egypt, PayMe specialises in offering cutting-edge payment solutions to both consumers and companies.
This is another fintech startups in egypt. These services include PayMe Gate, an online payment gateway service for e-commerce websites, m-commerce apps, and any platform that requires a native payment experience, as well as PayMe Store, an online venue to receive online costs from customers without the need for a website, mobile app, upfront cost, or any special contractual agreements.
5. PayMob
PayMob is a provider of electronic payment solutions that transform cash payments to digital ones utilising already-established payment methods including credit card, mobile wallet, and cash.
The business produces white-labeled mobile wallet products for mobile network operators and banks and offers solutions for the issuance and acceptance sides of payments.
6. PaySky
PaySky is a cutting-edge, multi-channel payment system that makes it simple for customers and companies to pay and get paid. This is another fintech startups in egypt. Also check Courier Management Software
The company provides a full selection of payment acceptance options for in-person or card-on-delivery (CCOD) transactions via a variety of channels, including POS, mPOS, and QR Codes.
7. Money Fellows
Users can create “money circles” (Gam’eyat in Arabic) using the collaborative group lending and savings platform Money Fellows in a safe manner.
A person can look for and join a relevant money circle based on their score. Once the money cycle has begun, each user begins to make a comparable monthly payment for a predetermined number of months. Up until everyone in the circle has gotten their payouts, one member of the circle is given the sum of all payments made each month.
8. Shekra
This is another fintech startups in egypt. A specialist crowdfunding website in Egypt called Shekra Shekra, also known as Sharek Fekra, aims to connect business owners with a broad range of investors.
The platform, which was established in 2012, operates by requesting tiny sums of funding from its network of investors to finance a particular project or a business, thereby reducing investment risk.
9. Yomken
Yomken intends to improve micro and small companies (MSEs) engaged in low-tech, unorganised manufacturing by utilising the wisdom of the community. To assist them in crushing the numerous obstacles they confront, the website connects them with scholars, scientists, researchers, engineers, and other sources of information and expertise.
Yomken now provides two primary services: an open innovation platform and a market place where creatives and innovators can list their projects, patents, and market studies to be linked with funding sources, as well as other collaborators and knowledgeable individuals.
10. Dopay
Employers may compute salaries and send payments electronically using Dopay’s cloud-based payroll solution. A DoPay card and access to the DoPay app are provided to employees, giving them a complete banking experience. This is another fintech startups in egypt. Also check Lawn Care Software
In order to develop into the greatest unbanked regions of the globe, the company has been working in conjunction with Barclays to offer payroll services to a number of multinational companies, embassies, and local businesses in Egypt. Dopay maintains offices in Ghana, Cairo, and London.