Egyptian Fintech Startup Qardy Secures 7-Figure Pre-Seed Investment for Expansion
Qardy, an Egyptian fintech startup offering lending services to micro, small, and medium-sized enterprises (MSMEs), has successfully raised a 7-figure pre-seed investment in US dollars to support its expansion.
Founded by Abdel Aziz Abdel Nabi, Qardy aims to become a leader in the lending sector. Since its launch in summer 2022, Qardy has become a reliable partner for MSMEs and financial institutions, serving over 1,000 business clients on its platform. The startup has facilitated loan transactions totaling over EGP 550 million (approximately $12 million USD).
The 7-figure pre-seed investment round included investors such as 500 Global, White Field Ventures, Vastly Valuable Ventures, and several angel investors.
In a press statement, Tamer El-Manasterly, Qardy's COO, said, "We are thrilled to have reached this significant milestone in our journey. The support and trust of our investors have been essential in fueling our growth and enabling us to expand our reach and impact in the market. This investment will allow us to further improve our services and accelerate our expansion plans in Saudi Arabia and the region."
With this investment, Qardy is poised to continue its growth trajectory and solidify its position as a leading fintech player in the Middle East and North Africa region.
