Noqood holding launches FinTech platform with EGP 500m in portfolio

Noqood holding launches FinTech platform with EGP 500m in portfolio

Noqood Holding Company launched its first FinTech services online platform in Egypt through its sister company, KashNow, for instant payments services with a portfolio valued at approximately EGP 500 million in 2022.

The company mainly invests in the non-banking financial services sector as well as FinTech solutions.

According to Ahram Online, KashNow is the first arm of the holding company with a paid-up capital worth EGP 30 million and specialises in payment services for companies operating in Egypt and reducing pressure on the liquidity available to them through cooperation with the Suez Canal Bank to issue Meeza cards.

KashNow’s CEO, Abdelrahman Ali, also stated that the Kashnow offers three key services: Salary in Advance, which allows employees to lend up to 85 percent of their salaries, Corporate Card, which issues cards in favour of companies, enabling them to pay their periodic financial obligations through international and local online and offline payments and finally Fleet Trip Finance, which avails liquidity to drivers working for companies and it allows the possibility of transferring cash balances to drivers.

Noqood Holding was founded in 2021 and provides non-banking financial services and invests in FinTech based projects, startups and SMBs.

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