Qardy, the first digital lending marketplace in Egypt and the MENA region, has successfully closed a seven-figure pre-seed investment round.
According to MSN, the funding round included contributions from White Field Ventures, Vastly Valuable Ventures, and several angel investors.
The startup, launched in late 2022, has quickly made its mark by attracting over 6,000 corporate clients. To date, Qardy has facilitated loan transactions surpassing $12m.
Qardy operates as a comprehensive financial hub, catering exclusively to micro-, small, and medium-sized enterprises (MSMEs). The platform offers a diverse array of financial programs aimed at bolstering MSMEs with crucial working capital and supporting their capital expansion initiatives. This is made possible through Qardy’s extensive network that spans national and commercial banks, as well as leasing, factoring, and microfinance companies.
The newly acquired funds are earmarked for expanding Qardy’s reach and enhancing its technological capabilities. The company aims to further develop its platform to meet the growing demands of its clientele and to extend its services to more MSMEs across the region.
Additional information includes Qardy’s significant traction in the FinTech sector, which is evident from its rapid client acquisition and substantial transaction volume within just a few months of its soft launch.
“Qardy is committed to reshaping the financial landscape for MSMEs across Egypt and the broader MENA region,” Qardy CEO Ahmed Hussein said. “This funding will allow us to accelerate our mission, expand our offerings, and bring more partners into our network.”
Previously, Qardy has also been involved in various undisclosed funding activities that have helped in setting up and scaling its operations in its initial stages.
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