The “E. Finance” financial and digital investments group, the government arm of digital transformation operations in Egypt, revealed its leadership for a financing tour of “Nexta”, one of the emerging startups in financial technology, at a value of $ 3 million.
The “E.
Finance” group, through the “Niktta” company, which was established in 2021, aims to create a new and distinctive experience in the Egyptian market to provide some digital banking services, as the Emerging Financial Technology Company “Naksta” obtained the initial approval of the Central Bank of Egypt since 6 months to start providing its services.
The chairman and managing director of E. Ibrahim Sarhan, for his part,
According to Finance for Financial and Digital Investments, the organisation places a high value on assisting financial technology companies in line with the central bank’s policy of financial inclusion and the growth of digital banking services to connect with digital banks.
He added: “We believe that investing in Nesta is compatible with the investment strategy of any Finance, which includes one of its axes to focus on investing in startups in the field of financial technology, which I have started before by participating in the establishment of an investment fund (NCLUDE) to invest in emerging financial technology companies, in a way that enhances From the current and future leadership of E. Finance for financial technology in Egypt.
Sarhan continued, “E.
Because a catastrophe was selected due to its distinctive business model and cutting-edge technology that is integrated with the activities of E Finance and its infrastructure, creating a higher added value for our investments, and because this integration aids me, finance aims to maximise the returns achieved for shareholders and the optimal exploitation of the advanced infrastructure of the group. The speed and increase of the size of the Nicksa works through E Finance, which eventually means increasing the chances of success achieved for her.
Sarhan emphasised that the business is among the most promising ones the firm will invest in out of the various startup investments currently being researched. It is more than just a strategic relationship, thus it won’t be referred to as a fundraising tour.
By creating integrated platforms that are driving the digital revolution, the “E Finance” company has solidified its position as a key partner in encouraging the Egyptian government to go digital. In Egypt, we are already part of this digital transformation at the local level, I would like to express our happiness for being with us. “.
E Finance organises a $3 million funding tour to offer online banking services.
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