Egyptian fintech startup Flick has just raised $1M from an angel investor in a Pre-Seed funding round. Flick digitizes the cross-border end-to-end money transfer through its “seamless” app.
The startup aims to solve the common pain points in the traditional methods of international money transfer. Customers can transfer money using the Flick mobile app from anywhere and everywhere without any commuting needed for both the sender and the recipient.
“Our team covers a great area of expertise, and we have a track record in planning, commercial and technical. We studied the market well for a year, and we received many funding offers from bodies and individuals, but our initial focus was solely on studying the market well to identify the main problems and pain points, and then worked to solve it. I now intend to focus on the quality of the customer’s journey.”Ahmad Zalat, CEO, Flick
According to MAGNiTT, Flick plans to penetrate the $18.8-billion Gulf markets quickly and aggressively, including Saudi Arabia, UAE, Kuwait, and Jordan. They plan to use the new funds to expand their team and capitalize on marketing. In the future, they are looking to cooperate with the Saudi and UAE government, PayTabs Gateway, as well as several banks in Egypt, UAE, and KSA.
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