Fawry, Egyptian fintech startup is poised to raise $51m via right issue, explores US listing

Fawry, Egyptian fintech startup is poised to raise $51m via right issue, explores US listing

ByTechTrends

Egyptian fintech Fawry has announced plans to raise 800 million Egyptian rupees (US$51 million) in growth capital through a rights issue to existing shareholders, with the proceeds to fund a new chapter of expansion in both consumer and financial services intended to be used for consumers as well as merchants. Founded in 2008, Fawry is…

Sudanese classifieds platform alsoug raises $5m funding; round includes Egyptian unicorn Fawry

Sudanese classifieds platform alsoug raises $5m funding; round includes Egyptian unicorn Fawry

ByTechTrends

Sudanese classifieds and marketplace platform alsoug has raised US$5 million in Series A funding in a round that includes Egyptian fintech unicorn Fawry. Founded in 2016, alsoug is Sudan’s largest classifieds platform, and the startup has raised a US$5 million Series A funding round in order to build out an associated fintech platform, Cashi. “From our earliest beginnings…