myFawry First in Forbes Top Middle Eastern Fintech Apps List

myFawry First in Forbes Top Middle Eastern Fintech Apps List

myFawry was ranked first in Forbes’ Top Fintech App in the Middle East List. myFawry is an app through which people can pay bills, recharge their mobile phones, book bus tickets, track their spending, and more.

Fawry is Egypt’s first and largest electronic payment network established in 2008, offering financial services to consumers and businesses through a variety of channels nationwide. Fawry’s services include but are not limited to electronic bill presentment and payment, alternative digital payments, omnichannel acceptance, supply chain payments, agent banking services, digital SME lending and other varieties of digital solutions for banks, billers, and merchants.

Fawry for Banking and Payment Technology Services was listed on the Egyptian Stock Exchange (EGX) in 2019. The company reached a market cap of $1 billion in August 2020. According to its last report, its current market value is at $1.9 billion as of August 5, 2021. The company, which also offers financial services through multiple channels such as ATMs and retail points. As of June 2021, the app had 3.5 million total downloads and $105 million annualized throughput.

Al Ansari Exchange Mobile App, Al Mulla Exchange, MyFatoorah, and ValU rank just below the Egyptian app in Forbes’ list.

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