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Egyptian fintech startup Kashat raises $1.75m bridge funding round for expansion.

Kashat, an Egypt-based provider of fintech and microloan solutions, has successfully raised $1.75 million in its latest funding to further develop its platform and expand operations.

The Bridge round was led by the Pan-African fund Launch Africa, whose mandate is to back companies that address the continent’s most significant challenges, and included several prominent regional investors, including previous investor Cairo Angels.

Kashat was founded in 2019 with the goal of significantly impacting financial inclusion in Egypt and the Arabic-speaking world at large by delivering accessible, frictionless, and productive financial services. Kashat, with its user-friendly mobile application, now delivers nano financial services in the form of small loans to Egypt’s unbanked and underbanked demographics.

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Kashat’s operations serve to an unique demographic as a result of their objective to promote financial inclusion in Egypt. Kashat is reaching out to Egypt’s unbanked sector by offering micro-loans and nano-financial services to a market that accounts for more than 70% of the population.

The Egypt-based fintech intends to use the new funds to sustain and enhance its platform, as well as to expand its operations.

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Weddy Thuranira
Weddy Thuranira
Weddy profiles new startups and innovators across Africa and announces funding rounds, mergers, acquisitions and startup partnerships across Africa. She is based in Nairobi, Kenya. Reach her and the entire news desk at [email protected]

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