Egyptian Startup Kashier Payments Raises Seed Investment to Expand Products and Grow Team

Less than a year after obtaining the required approvals as a payment facilitator/service provider and launching its payments platform, Egyptian startup, Kashier Payments, has announced that it has raised a seed investment round. The undisclosed amount was invested by Egypt’s Glint Ventures, with participation from a group of strategic investors, as reported by Magnitt.

Founded in 2017 by Khaled Raslan, Mohamed Hossam and Mohamed Mohsen, Kashier Payments aims to simplify payment processes for businesses, by offering simple tools and efficient channels.

“Our aim at Kashier is to empower Egyptian businesses by facilitating their process of joining the digital economy, which in turn will lead to the long-term growth and sustainability of their business,” Raslan, who is also Kashier’s COO, said. “The current global pandemic in addition to the CBE’s commitment to financial inclusion has caused a major structural shift in the market towards electronic payments, and Kashier’s robust technology is perfectly positioned to capture and handle the increased demand for digital payments. We are excited to be joined by our investors who share our vision for a more digital and inclusive economy.”

According to reports, the investment will be channeled into three main areas: growing the Kashier team, introducing more products into their portfolio and up-scaling its commercial go-to market strategy.