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Monday, 13 September 2021

Kashat closes USD 1.75 mn bridge funding round

Egyptian fintech and microloan solutions provider Kashat received USD 1.75 mn in a recent bridge funding round, the company said in a statement. A senior company executive told us earlier this month that the company had received the funding but declined to disclose its value. The round saw participation from pan-African fund Launch Africa, which typically invests up to USD 300k per transaction, with Cairo Angels also taking part. This latest funding “backs Kashat’s mission to positively affect financial inclusion in Egypt, and the Arabic speaking world at large, by providing accessible, productive, financial services,” a company senior exec told us.

IN OTHER STARTUP NEWS-

  • Food ordering service Talabat Mart is expanding to Alexandria, Mansoura and Tanta as part of its plan to cover more cities and governorates, Al Mal reports.
  • Vezeeta will provide healthcare services to beneficiaries of the Tahya Misr Fund, according to Al Mal. The healthcare platform will offer doctors’ consultations, medication and some operations through providers in the Vezeeta network after signing an MoU with the state-backed fund, the newspaper claims.

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