Fintech startup Kashat secures funding from Cairo Angels for expansion plans

EGYPT – Kashat, a Cairo-based fintech startup which just launched out in 2020, has secured an undisclosed amount of funding from Cairo Angels, a global network of angel investors targeting startup opportunities in Egypt, the Middle East and Africa, to aid in its expansion plans. Founded by Sumair Farooqui and Karim Nour, Kashat is the first Nano lending mobile application in Egypt, offering short term loans from EGP 200 (US$12.73) to EGP 1500 (US$95.45) with a repayment plan up to 61 days. The product is designed to serve unbanked Egyptians,…

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Cairo Angels launches US$3M micro VC fund for early stage startups in MEA

EGYPT – Cairo Angels, an angel network that invests in Egyptian startups, has launched a US$3 million (EGP47.07 million) micro venture capital (VC) fund that will invest in early-stage startups in the Middle East and Africa aiming to back up and support the growth of local and regional startups at the pre-Series A stage. Under the name Cairo Syndicate Fund, the new arm will focus mainly on Egypt, Saudi Arabia, and the UAE, and is expected to make its first investment in January 2021 and fully deploy within 24 months…

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