Egypt’s fintech NowPay gets two new US private equity investors in its capital
Monday, 02 September 2019 19:29
The Egyptian firm NowPay, which operates in the financial services sector, sold a minority stake in its capital to two American venture capital companies, Endure Capital and 500 Startups, for $600,000.
The company co-founded by Mostafa Ashour (pictured), Cherif Radi and Ahmed Sabry will use this investment to strengthen its team and improve its services. Operational since 2018, NowPay has developed an application that allows employees to receive salary advances.
Over the past two years, the funds raised by fintech on the continent have gradually increased. In Egypt, fintech was quite dynamic. According to Global Tech Media WeeTracker, they raised 25 funds for a total amount of €95 million during the first half of 2018.
Chamberline Moko
Live News
-
Lome Container Terminal revamps customer service with one-stop model
20:41
-
Industrial Gas Demand in Douala Collapses as Prices and Supply Strain Clients
20:20
-
Douala Port Turns to PPP to Rebuild Its Regional Trade Hub at Boscam
20:07
-
Cameroon Looks to Formalize Cross-Border Trade With Digital Freight Platform
19:54
-
Cameroon Overhauls Procurement Strategy to Unlock Weigh Station Upgrades
19:49
-
Ghana, Japan Development Agency Review $11m-Saving Road Project at IMF Meetings
19:44
-
Nokia, Orange Pilot AI-Powered Radio Networks With Nvidia Support
19:38
-
Burundi Secures $100 Million BADEA Financing to Cushion Rising Import Costs
19:26
-
IMF Approves Monitoring Program to Support Zimbabwe’s Economic Stabilization
18:55
-
Togo: Fuel retailers turn to digital tools to improve customer loyalty
17:24
(EBID) - EBID aims to allocate nearly 41% of its commitments to projects with environmental and...
Four major operators—Mauritel, Mattel, Rimatel, and Chinguitel—submitted a combined bid of ...
Operators review 2025 investments, outline 2026 expansion plans Consumer complaints persist...
Algeria launches bid for two NGSO satellite telecom licenses Move aims to expand broadband ac...
Gabon's 7% 2031 Eurobond posted its biggest single-day drop in a year on Wednesday after a new I...
Ghana, JICA discuss road, bridge projects at IMF-World Bank meetings Kumasi Ring Road grant secured; talks focused on implementation...
Collaboration explores AI-RAN to improve network efficiency Nvidia provides computing power for real-time optimization Initiative aims to reduce...
$100 million facility targets fuel, medicines, and fertilizers Support comes amid rising global price pressures Deal reflects Burundi’s...
Ten-month program aims to strengthen macroeconomic management No financing attached, but key step toward re-engagement Progress hinges on...
Lomé is hosting the 9th edition of the International Film Festival of Togo (FIFTO) featuring 33 films. The event promotes African storytelling in...
Fally Ipupa plans a two-part album project combining urban sounds and traditional rumba. The first album “XX” releases on April 17, while “XX Delirium”...