Tech in Africa
Egypt fintech KIWE a peer-to-peer money exchange app has closed its first investment round led by Digital Finance Holding (dfin) alongside participation from EFG Hermes, Marakez for Development, and a group of angel investors. KIWE was founded in March 2021 by Fatma Khalifa (CEO), Mohamed Khalifa (COO), and Omar Kamel (CBO).
This strategic consortium of investors will catapult the growth of KIWE by deploying dfins’ tech-based financial services portfolio that utilizes EFGs’ Valu as one key payment method while rolling out across Marakez’s portfolio of commercial and residential projects. This is a perfect fit that helps drive the mission toward a future of strong E-payments future alongside EFG EV Fintech.
KIWE is working to create a cashless ecosystem through a comprehensive merchant network, providing customers with the safest, simplest, and fun-filled payment experience. KIWE intends to empower freelancers and business owners by helping them identify their key targets, level up customer experience, and accept online/offline payments.
KIWE’s payments vision will adhere to the Central Bank of Egypt’s (CBE) regulations and the country’s digital transformation policies. CBE’s efforts to E-payments are unprecedented as they enable startups to support the overall fintech infrastructure while facilitating communication with key financial institutions.
Digital Finance Holding is a tech-based financial service platform. EFG Hermes is among MENA’s largest financial service company. Marakez is a leading mixed-used developer in Egypt with a portfolio of commercial/residential projects.
Source: Wamda
