Kashat, an Egypt-based fintech and microloan solutions provider, has raised $1.75 million in its newest round of funding. The Bridge round was led by Pan-African fund Launch Africa, whose goal is to assist firms that address the continent’s most pressing issues, and included several prominent regional investors, including prior investment Cairo Angels.
The Egypt-based fintech intends to use the fresh money to sustain and grow its platform, as well as expand its operations.
“With the growth in customer purchasing power, increased financial inclusion and democratised access to a broader array of goods and services, consumers across Egypt are desperate for a timeous, efficient, digital-friendly and affordable lending solution. Kashat is making broad, bold strides towards this goal and we are proud to be backing them on this journey,” said Managing Partner Launch Africa Ventures Zachariah George.
Egypt’s fintech landscape is thriving, with entrepreneurs contributing to the digital economy’s growth through frictionless financial solutions. While fintech startups in Egypt such as PayMob and MoneyFellows focus on the greater Egyptian market, Kashat’s operations cater to a specific population as part of their objective to promote financial inclusion in Egypt.
Kashat is getting into Egypt’s unbanked sector by providing microloans and nano-financial services to a market that accounts for more than 70% of the population.
A Look At What Kashat Does
Kashat was founded in 2019 with the goal of improving financial inclusion in Egypt and the Arabic-speaking world by providing accessible, seamless, and productive financial services. Kashat provides nano financial services in the form of small loans to Egypt’s unbanked and underbanked demographics through its user-friendly mobile platform.
Kashat fintech funding Kashat fintech funding
Charles Rapulu Udoh
Charles Rapulu Udoh is a Lagos-based lawyer who has advised startups across Africa on issues such as startup funding (Venture Capital, Debt financing, private equity, angel investing etc), taxation, strategies, etc. He also has special focus on the protection of business or brands’ intellectual property rights ( such as trademark, patent or design) across Africa and other foreign jurisdictions.
He is well versed on issues of ESG (sustainability), media and entertainment law, corporate finance and governance.
He is also an award-winning writer