Egyptian Fintech Qardy Raises Seven-Figure Pre-Seed Round
The region’s first digital lending marketplace will use this funding to accelerate plans for expansion into Saudi Arabia.
Egypt-based fintech startup Qardy has raised a seven-figure in US dollars during a pre-seed round with investments from White Field Ventures, Vastly Valuable Ventures, and other angel investors. Qardy is the region’s first digital marketplace platform through which financial institutions can fund Micro, Small, and Medium Enterprises (MSMEs).
Founded in 2022 by Abdelaziz Abdel Nabi, Asser Yehia and Tamer El Manasterly, Qardy has onboarded over 1,000 corporate clients onto its platform, executing over LE 5 million in loan transactions in the space of two years. The startup focuses on maintaining transparency and efficiency, offering a more open service than traditional banking solutions.
This latest seven-figure dollar pre-seed funding round will enable Qardy to further enhance the financial services it provides, whilst also accelerating plans for regional expansion into Saudi Arabia and the wider region.
Egypt has been the incubator for many of the region’s most successful fintech startups, including MNT-Halan, the country’s only unicorn, as well as Fawry, Valu, Paymob and Thndr, many of which have since expanded across the region.
