October 12, 2020

Egypt’s NowPay secures over $2M investment


ArabFinance: Cairo-based fintech NowPay raised $2.1 million (EGP 32.98 million) in a seed round that was co-led by Foundation Ventures and Endure Capital, MENAbytes reported on October 11th.

The funding was carried out with the participation of investors from the US, the UAE, China, and Egypt.

The new investment brings NowPay’s total raise until press time to $2.7 million (EGP 42.40 million), as it had secured funding worth $600,000 (EGP 9.42 million) in 2019.

NowPay will use the latest funds to enhance its platform, expand its team, and launch in some other markets, MENAbytes said, noting that “The startup did not share the details about the markets it is eyeing for expansion.”

arabfinance


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