Kashier Payments said to raise a seed investment

Egypt-based Kashier Payments has reportedly closed a seed round led by Glint Ventures.

This capital injection will be used to increase Kashier’s go-to-market strategy, expand its team and release more products, according to a report from Wamda.

The total amount raised and other backers to the round were not disclosed.

Kashier is a payments platform that lets companies empower and simplify payment processing by integrating  a selection of tools. Its features include subscription payments, invoices, recurring payments and general online transactions.

Kashier co-founder and CEO Khaled Raslan told Wamda, “Our aim at Kashier is to empower Egyptian businesses by facilitating their process of joining the digital economy, which in turn will lead to the long-term growth and sustainability of their business.

“The current global pandemic in addition to the Central bank of Egypt (CBE)’s commitment to financial inclusion have caused a major structural shift in the market towards electronic payments.”

Fellow Egyptian payments company Paymob recently closed a $3.5m funding round to help it grow its footprint and release new services.

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