ADVA, an Egyptian Fintech Startup Receives Six-Figure Seed Round From Sawari Ventures for Expansion

ADVA, an Egypt-based fintech, has raised an undisclosed “six-digit figure” Seed round from Sawari Ventures in order to extend its product offering and financial services breadth.

ADVA is a consumer finance platform founded by Rania Gaafar in 2020 that allows clients to pay for a variety of services and products in installments.

“ADVA is unusual in that it permits lending to a broad category of society, including – but not limited to – people who earn basic and supplementary incomes, pensioners, and self-employed individuals, by financing their necessary requirements in a way that improves the quality of their lives.” “Through cash management, our service helps customers retain financial stability,” stated Rania Gaafar, CEO of ADVA. “We take pride in the fact that we can setup core services for around half of our customers in less than 30 minutes.”

ADVA, Egypt’s first online service installment platform, has recently announced the debut of its premium programs, which provide consumers access to up to EGP one million in money.

The programs, which reach around 85% of the target audience, offer a variety of services to customers, with healthcare, education, and the installment feature topping the list.

In 2021, Gaafar anticipated ADVA’s business volume to be EGP 100 million. “We predict it to be four times larger this year than it was last year,” she said, adding, “Through our huge number of premium service providers and advanced technology methods, we assist consumers in obtaining the cash they require in a straightforward, uncomplicated manner.”

“Sawari Ventures generally focuses on financing firms that have already begun and proven success, while seeking extra capital to expand their scope of operation,” Ahmed El-Alfi, Founder and Chairman of Sawari Ventures, remarked. “As a seed fund, we invested a six-figure sum in ADVA, seeing it as a genuine prospect for collaboration between entrepreneurs and major financial institutions.” As a fundamental aspect of the government’s objective for digital transformation and financial inclusion, this will result in a significant leap in fintech.”

In order to meet the needs of its customers, ADVA focuses on growing its portfolio with a new package of installation services that includes wedding parties, car maintenance, insurance, and travel.