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
-
Manovo-Gounda-St Floris, the forgotten giant of Central Africa’s savannas
07:56
-
African artists face a ‘geographic penalty’ in streaming payouts despite 22% revenue growth
18:47
-
Ethiopia to Reopen Talks on $1 Billion Eurobond Restructuring After Creditor Concerns
18:43
-
Crypto Sovereignty Was CAR’s Goal. A Report Says Crime Risks Took Hold Instead
18:40
-
Cameroon Ratifies Air Deal With Qatar, Opening Market to Qatar Airways
17:51
-
State Oil Firm SNH Reshuffles Leadership, Names Five Women to Senior Roles
17:48
-
Chinese Addax Petroleum accounts for about 30% of Cameroon oil output in 2025
18:02
-
Cameroon plans CFA4bn investment to improve Memve’ele hydropower reliability
17:53
-
Morocco Signs Three Deals to Strengthen Digital Offshoring
13:51
-
Khouloud Abada Launches RenYou to Streamline Skin Health Follow-Up
13:08
Except for Tunisia entering the Top 10 at Libya’s expense, and Morocco moving up to sixth ahead of A...
African startup M&A hits record 67 deals in 2025 Consolidation driven by funding pressures and ex...
Urban employment reached 53.7% in WAEMU in early 2025 Most jobs remain informal, low-paid, and in...
CBE introduced CBE Connect in partnership with fintech StarPay. The platform enables cross-border...
Moniepoint, Opay, Kuda, and others gain national status with tighter oversight A naira 5 billion ...
Touted as a tool of emancipation, blockchain was meant to give the Central African Republic a new form of economic and digital independence. In practice,...
Ethiopia is placing technical and vocational training at the core of its growth strategy The policy targets youth employment amid high urban...
Madagascar accounts for nearly 60% of Africa’s clove output and export earnings Tanzania and Comoros rely heavily on cloves as key agricultural export...
Health developments range from the official end of the Marburg outbreak in Ethiopia to the launch of a central health data repository by Africa CDC. At...
Manovo-Gounda-St Floris National Park is one of the largest protected areas in Central Africa. Located in the northeastern part of the Central African...
Streaming dominates music, reshaping royalties and artist income worldwide Sub-Saharan Africa grows fast, but payouts stay far lower Platform, region,...