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mbellakbail69

Exclusive: Egypt's MoneyFellows raises over $1 million in a bridge round to digitize mo... - 0 views

www.menabytes.com/moneyfellows-1-million

shared by mbellakbail69 on 13 Feb 21 - No Cached
  • With steady growth in our user base, we have been working hard over the past year in order to optimize and perfect our product and are now ready to begin our scaling journey. We will dedicate the money from this bridge round to raise greater awareness for MoneyFellows, in order to allow a much greater number of users to access our application and meet their saving and financial needs
    • ayachehbouni
      ayachehbouni on 13 Feb 21
       
      Moneyfellows is still growing and developing and thanks to the many investments it receives and its many ideas that attract even more investors, the company in my opinion can expect to become one of the greatest Fintech companies.
  • MoneyFellows with its group pooling platform for credit and savings is digitizing the entire process of money circles with a scoring model that compliments current offline model, making it more scalable, safe and efficient.
    • mbellakbail69
      mbellakbail69 on 13 Feb 21
       
      The startup also has secured corporate deals with different companies in Egypt in order to facilitate participation of their employees in money circles.
mbellakbail69

FinTech for All: Moneyfellows founder on helping friends and family to save or borrow i... - 0 views

medium.com/...r-borrow-in-egypt-228e5a98c356

shared by mbellakbail69 on 13 Feb 21 - No Cached
  • Unique challenges are mainly regulations for Fintech companies usually being a grey area, without enough clarity on what exactly they might fall under.With lack of enough funds and diversity, fundraising is also another challenge for most of the startups in the MENA region.
    • ayachehbouni
      ayachehbouni on 13 Feb 21
       
      Fundraising is a priority for start-ups and companies in the MENA region as it is thanks to it that the companies can grow and work at full potential
  • Tackling these challenges, the EFSE Fund and the SANAD Fund for MSME, advised by Finance in Motion, have partnered with Village Capital and the LHoFT to develop the Fincluders Bootcamp 2017, unique investment readiness program designed for entrepreneurs offering inclusive financial products.
  • ‘Financial Inclusion’ might be the most noble sector of financial technology, solving problems the traditional finance industry won’t — servicing underbanked demographics in areas with poor financial infrastructure.
  • ...1 more annotation...
  • In my opinion, Financial inclusion isn’t just about opening a bank for those that are unbanked, but rather being able to offer them actual financial services like lending, savings and improving their credit scoring (which is the building block for all financial services), helping them improve their actual living standards, eventually.
mehdibella

"Fawry" took over "Waffarha" shares | Fawry - 0 views

fawry.com/awry-took-over-waffarha-shares

Kiva kenya Nairobi Fintech finance

shared by mehdibella on 13 Feb 21 - No Cached
  • Fawry, Egypt’s first and largest E-payment company in the Egyptian market signed an agreement to acquire a non-controlling interest in “Waffarha” is a platform that provides various offers and discount vouchers for B2B and B2C through its website and APPs on mobile devices.Tarek Magdy, CEO of Waffarha, said: “Waffarha” was launched 6 years ago as the only platform that provides offers ranging from 50% for B2B and B2C, with more than 1 million social media followers and more than 1000 commercial series.”And he pointed out that “Waffarha” provides many services as (restaurants, cafes, travel, health and beauty, entertainment, etc.). There are 250 thousand customers who have saved nearly 50 million EGP after using “Waffarha”. All offers starting from 50% include taxes and services, and can be paid in different ways by choosing “Fawry Pay” service, which allows customers to pay cash in more than 90 thousand stores of Fawry or by banks (credit cards or direct debit). In addition to paying with “PayPal” through Fawry Pay” Magdy added: “Waffarha” aims to reach its dealings to 150 million Egyptian pounds by 2020″.
    • kaoutarchennoufi
      kaoutarchennoufi on 13 Feb 21
       
      Fawry acquired WAFFARHA shares in order to correctly respond the requirements of its customers and businesses (Banks, mobile companies...) and provide them with loyalty programs, points systems ... in different fields. Since WAFFARHA was providing different services such as travel, health and beauty, restaurants... Fawry is alwaysmaking new investments in order to improve its customers and businesses journey and make it memorable.
  • Fawry, Egypt’s first and largest E-payment company in the Egyptian market signed an agreement to acquire a non-controlling interest in “Waffarha” is a platform that provides various offers and discount vouchers for B2B and B2C through its website and APPs on mobile devices.
  • “Fawry” took over “Waffarha” shares | Fawry
  • ...2 more annotations...
  • Tarek Magdy, CEO of Waffarha, said: “Waffarha” was launched 6 years ago as the only platform that provides offers ranging from 50% for B2B and B2C, with more than 1 million social media followers and more than 1000 commercial series.”
  • And he pointed out that “Waffarha” provides many services as (restaurants, cafes, travel, health and beauty, entertainment, etc.). There are 250 thousand customers who have saved nearly 50 million EGP after using “Waffarha”. All offers starting from 50% include taxes and services, and can be paid in different ways by choosing “Fawry Pay” service, which allows customers to pay cash in more than 90 thousand stores of Fawry or by banks (credit cards or direct debit). In addition to paying with “PayPal” through Fawry Pay”
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