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Monday, 26 April 2021

Cairo Angels invests in Kashat

Kashat has landed Cairo Angels’ largest investment to date: VC firm Cairo Angels has made an undisclosed investment in our friends at Kashat, according to a press release (pdf). The statement did not disclose the exact value of the investment, saying only that it is the “largest investment in Cairo Angels’ history.” Co-founders Karim Nour and Sumair Farooqui told us last month that the investment was part of a private seed-extension round led by Cairo Angels, which closed in December.

About Kashat: The company, one of Egypt’s hottest fintech startups, is a nanoloan provider that offers small productive facilities of between EGP 200-1.5k to Egypt’s large unbanked population, with a repayment period of up to 61 days. Kashat is Egypt’s first FRA-regulated nano-finance player and has integrated with leading e-payment platform Fawry, as well as Vodafone Cash and Aman.

CORRECTION- 26 April 2021

An earlier version of this story incorrectly spelled Farooqui.

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