Fintech company Kashat raises US$1.75m to further support and develop its platform

EGYPT – Kashat, the Egypt-based fintech and microloan solutions provider, has successfully raised US$1.75 million in its latest funding. The Bridge round was led by the Pan-African fund Launch Africa, whose mandate is to back companies that tackle the most meaningful challenges on the continent and saw the participation of several key regional investors including previous investor, Cairo Angels. The Egypt-based fintech plans to utilise its newly acquired funds to further support and develop its platform, as well as expand its operations. “With the growth in customer purchasing power, increased…

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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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