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Egyptian fintech startup Telda raises $20 million to expand into new markets

Telda, an  Egypt-based fintech  has raised $20 million in a seed funding round led by Global Founders Capital with participation from Sequoia Capital and Jack Dorsey’s Block. 

Telda was founded in 2021 and raised $5 million in a pre-seed funding round led by Sequoia Capital with participation from Global Founders Capital and Class 5 Global months after its launch.

 According to a  statement  from the startup, it obtained the final approval from The Central Bank of Egypt (CBE) to start operating its card earlier this year.

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The started operations last month and launched its app and a Mastercard-powered card to the public. It has onboarded 25,000 cards ever since and has a waiting list of 110,000 customers who have ordered their cards on the app.

Telda will use the funds to expand into new markets and build its product offering.

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Milcah Lukhanyu
Milcah Lukhanyuhttps://techmoran.com
I cover tech news across Africa. Drop me an email at [email protected]

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