Nexta, a digital banking app and platform, secured a $3 million investment from e-finance, a provider of digital payment solutions.
Nexta was founded by Ahmed Hisham to create a “next generation banking” experience in Egypt. After satisfying all CBE’s regulations, the startup is looking to get its final license in a few weeks and launch its banking app in the coming month.
“Nexta is among the promising companies financed by the group within several targeted investments. It’s worth noting that the Group took part in establishing Nclude—an investment fund—to invest in emerging fintech companies, thus improving the current and future direction of FinTech in Egypt,” Ibrahim Sarhan, e-finance’s Chairman and CEO, said.
Nexta had also raised $2.2 million in funding in a pre-seed round earlier this year. The startup works on streamlining money management and making money tasks simple, fast and affordable.
If you see something out of place or would like to contribute to this story, check out our Ethics and Policy section.