In a recent development, Cairo-based fintech startup HEDG has successfully garnered a noteworthy sum in a pre-seed funding round from undisclosed local and Saudi Arabian investors. Co-founded by tech innovators Ahmed Abdel Moaty and Ahmed Eraqi in July of 2022, HEDG is poised to bring about a paradigm shift in the landscape of retirement planning tailored to the needs of private sector employees in Egypt.
The infusion of this considerable investment capital sets HEDG on a trajectory to redefine conventional retirement services, ushering in a new era characterized by seamless digital interactions and bespoke retirement strategies. HEDG’s distinctive value proposition lies in its commitment to addressing the distinct requirements of Egypt’s micro, small, and medium enterprises (MSMEs), offering them a range of alternative pathways for both savings and investments.
Beyond its current horizons, HEDG is positioned to introduce an innovative business-to-business (B2B) module, which is poised to empower a spectrum of enterprises ranging from nascent startups to established corporations. Through this module, HEDG seeks to enable businesses to furnish their workforce with robust and comprehensive pension solutions. In so doing, the company not only shapes the contours of the financial technology landscape but also propels the dawn of an unprecedented epoch of financial inclusivity.
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The hallmark of HEDG’s forward-thinking approach lies in its emphasis on leveraging technology to reformulate the contours of retirement services. This vision, coupled with strategic alliances with corporate entities, underscores the potent capacity of HEDG to redefine the financial terrain within the MENA region. As HEDG continues to refine its suite of offerings and expand its footprint within Egypt, it stands poised to emerge as a trailblazer in the realm of fintech, charting a trajectory that holds transformative implications for the entire geographical expanse.
Charles Rapulu Udoh
Charles Rapulu Udoh is a Lagos-based lawyer, who has several years of experience working in Africa’s burgeoning tech startup industry. He has closed multi-million dollar deals bordering on venture capital, private equity, intellectual property (trademark, patent or design, etc.), mergers and acquisitions, in countries such as in the Delaware, New York, UK, Singapore, British Virgin Islands, South Africa, Nigeria etc. He’s also a corporate governance and cross-border data privacy and tax expert.
As an award-winning writer and researcher, he is passionate about telling the African startup story, and is one of the continent’s pioneers in this regard