Egyptian startup Kashier Payments, announced today that it has successfully completed a seed investment round of funding led by Glint Ventures, with participation from a group of strategic investors. The investment amount is undisclosed. Kashier will be using the investment proceeds to scale up its commercial go-to-market strategy, grow the team, and to introduce new products.
Khaled Raslan, Mohamed Hossam, and Mohamed Mohsen founded Kashier in 2017 and they launched its online payment acceptance services in 2019 after obtaining the required approvals as a Payment Facilitator and Payment Service Provider and entering into a strategic partnership agreement with two of Egypt’s leading acquiring banks.
Kashier empowers businesses with a unified payments platform by providing them with simple yet efficient tools to make it easier for them to make and accept payments from and to their customers, vendors, and partners via a variety of payment methods and channels.
Khaled Raslan, Kashier’s Co-Founder and Chief Executive Officer said: “Our aim at Kashier is to empower Egyptian businesses by facilitating their process of joining the digital economy, which in turn will lead to the long-term growth and sustainability of their business. The current global pandemic in addition to the CBE’s commitment to financial inclusion have caused a major structural shift in the market towards electronic payments, and Kashier’s robust technology is perfectly positioned to capture and handle the increased demand for digital payments. We are excited to be joined by our investors who share our vision for a more digital and inclusive economy.”
“FinTech companies are already disrupting and reshaping the financial services world as we know it. We are excited about this investment that would address the electronic payment needs of Egyptian businesses, reinforce the digitization of the economy and help bridge the Fintech gap” said Tarek Aboualam, Managing Partner at Glint.
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