ⓘ Featured image: Kashier co-founders, from left – Mohamed Hossam, Khaled Raslan, and Mohamed Mohsen
Al Jizah, Egypt-based fintech startup Kashier Payments on Sunday (20 September 2020) announced that it has raised an undisclosed amount of seed capital from Glint Ventures, with participation from some undisclosed investors.
The company will deploy the funds to scale up its commercial go-to-market strategy, expand its team, and introduce new products.
Founded in 2017 by Khaled Raslan, Mohamed Hossam, and Mohamed Mohsen, Kashier enables business owners to process and accept payments from and to their customers, vendors, and partners via a variety of payment methods and channels.
The company had launched its online payment acceptance services in 2019 after being licensed as a payment facilitator and payment service provider following its partnership agreement with two of Egypt’s acquiring banks, according to a release.
Speaking of the development for Khaled Raslan, CEO & Co-founder of Kashier, said,
“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. The current global pandemic in addition to the Central bank of Egypt (CBE)’s commitment to financial inclusion have caused a major structural shift in the market towards electronic payments,”
Tarek Aboualam, the managing partner at Glint, highlighted,
“Fintech companies are already disrupting and reshaping the financial services world as we know it. 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,”