Cairo-primarily based fintech Kashier has raised seed funding led through Glint Ventures, it introduced in a assertion to MENAbytes on Sunday. The startup did not expose the precise size of funding however has instructed MENAbytes that it is a six-figure (USD) deal. The spherical additionally included participation of a few other unnamed investors.
Founded in 2017 through Khaled Raslan, Mohamed Hossam, and Mohamed Mohsen, Kashier permits ecommerce and retail groups to simply accept payments using its platform. The groups can use Kashier on their website or mobile app using smooth integration options.
It released its offerings in 2019 after acquiring the specified approvals as a Payment Facilitator and Payment Service Provider from Central Bank of Egypt and getting into a strategic partnership settlement with of Egypt’s leading obtaining banks, stated the startup in a assertion.
“Kashier empowers businesses with a unified payments platform by providing them with simple yet efficient tools to make it easier for them to make and accept payments from and to their customers, vendors, and partners via a variety of payment methods and channels,” noted the startup in a statement.
According to its website, the payment techniques it presently helps consist of Visa, Mastercard, and Meeza. Kashier additionally permits merchants to simply accept payments made thru international cards.
The platform charges 2.85 percentage plus EGP 3 on every successful transaction. It doesn’t have a setup or month-to-month fee.
Khaled Raslan, the co-founder and CEO of Kashier, said, “Our aim at Kashier is to empower Egyptian businesses by facilitating their process of joining the digital economy, which in turn will lead to the long-term growth and sustainability of their business.”
“The current global pandemic in addition to the Central Bank of Egypt’s commitment to financial inclusion have caused a major structural shift in the market towards electronic payments, and Kashier’s robust technology is perfectly positioned to capture and handle the increased demand for digital payments. We are excited to be joined by our investors who share our vision for a more digital and inclusive economy,” he added.
