Egypt – Nexta, Egypt’s upcoming banking app announced that it secured a $3 million investment. The investment was led by e-finance, Egypt’s leading provider of digital payment solutions, and the backbone of the Egyptian government’s digital transformation strategy.
Founded by Ahmed Hisham in 2021, Nexta is expected to launch soon. The company says it will “disrupt the Egyptian Fintech scene, by creating what is currently unknown to many Egyptians, a next-generation banking experience.”
The fintech challenger aims to redefine the way digital natives and their households handle money.
For his part, Ibrahim Sarhan, e-finance’s chairman and CEO, stated that the group attaches great importance to supporting fintech innovations and its new projects. This is in line with Egypt’s digital transformation plan and Egypt Vision 2030, which ensures the maximization of the group’s assets and investments with a diverse portfolio in the fintech field.
“Nexta is among the promising companies that the group finances within several targeted investments. It is worth noting that the group participated in the creation of Nclude – an investment fund – to invest in new fintech companies, thus improving the current and future direction of fintech in Egypt.” Sarhan said.
Ahmed Hisham, CEO of Nexta commented: “I wouldn’t call it a funding round. It is more of a strategic partnership. e-finance has cemented itself as an integral partner in the Egyptian government’s push for digitization by developing integrated platforms leading Egypt’s digital revolution. We are very happy to have them on board. We are already part of the nationwide digital transformation!”.
Hisham added, “the demand for digital financial services is increasing day by day, we believe that there is a huge opportunity for us to offer a differentiated and unique experience to different users in such a promising market.”
Nexta introduces “next generation banking services”, and promises better everyday life by offering what is known as “lifestyle banking”. A Nexta card will allow instant, easy and reliable money transfer, budgeting, tracking of expenses and a host of other features to come.
Nexta is looking to get its final license in a few weeks, after satisfying all regulations from the Central Bank of Egypt. The investment is set to bring Nexta over to its official launch.
© 2022 Daily News Egypt. Provided by SyndiGate Media Inc. (Syndigate.info).
