Egypt's Paynas Comes First Place At Seamless North Africa 2019, Wins $50,000

Egyptian fintech startup Paynas won first place of Seamless North Africa 2019 on June 18^th in Cairo. Founded by Mohamed Mounir, the startup won the pitch off competition, for a grand cash prize of $50,000.

 

Seamless is North Africa’s biggest event covering payments and financial services innovation. Seamless brings together the entire financial ecosystem to discuss, debate and evaluate the future of money.

 

Paynas has already seen considerable appeal in the finance market and its reputation is growing by the day, being one of EFGEV Fintech’s portfolio companies (a joint venture between Egypt Ventures  and EFG Finance), graduating their acceleration program in partnership with Falak Startups and empowered by significant financial partners such as Visa, AXA and Banque Misr.

 

With Paynas, there are many features that enrich the experience of both employers and employees alike, such as managing employees’ documentation, attendance, onboarding, recruitment, banking services, payroll and much more. Further services include a benefits marketplace, which aims to provide the usual benefits found in large organisations to SMEs. This allows SMEs to counter high rates of insurance, commuting and similar benefits and enables them to give those resources to their teams. The creative, one-stop platform also provides banking and payroll advantages like Visa-powered debit & credit cards to employees, granting them access to instant payrolls & services in a few clicks.