Egypt-Based Fintech Company Swypex Secures $4m in Seed Round
Egyptian fintech company Swypex has secured a $4 million Seed investment round, led by venture capital firm Accel. Other participants include Foundation Ventures, The Raba Partnership, and several angel investors.
With the closure of the Seed round, Swypex is set to launch its operations in the Egyptian market after obtaining the necessary license from the Central Bank of Egypt. The platform aims to address financial inefficiencies and provide comprehensive solutions for businesses.
Speaking on the seed round, Ahmad Mokhtar, CEO of Swypex said,
“Swypex is built to give Egyptian businesses a competitive advantage, providing them with the efficiency and growth they deserve. By empowering businesses with the most powerful corporate card in Egypt, paired with our all-in-one financial platform, we will help businesses simplify their financial operations and improve their financial health. Swypex is the first and last platform a finance team needs. We’re excited to partner with Accel, Foundation Ventures, and Raba to make this vision a reality, and we look forward to continuing this journey.”
Founded in 2022 by Ahmad Mokhtar, Tarek Mokhtar, and Sasan Hezarkhani, Swypex offers a B2B all-in-one financial management platform that streamlines payments, invoice management, and smart corporate cards.
The fintech is licensed by the Central Bank of Egypt and aims to eradicate financial inefficiencies and unleash the full potential of businesses.
Swypex integrates payments, invoice management, and smart corporate cards into a unified platform. Their suite of products simplifies financial management, enabling businesses to automate workflows and conduct payments effortlessly. Tailored for Egyptian businesses, Swypex’s corporate cards are crafted to lower expenses, enhance operational efficiency, and foster scalable growth.
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