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    Flutterwave debunks Alleged Reports of Hacked Accounts

    WorkPay raises $2.7million Pre-series A Funding to Expand its Services across Africa

    WorkPay raises $2.7million Pre-series A Funding to Expand its Services across Africa

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    Jumba raises $4.5 Million Pre-seed to Expand the supply of Construction materials in Kenya.

    Naked secures $17 Million Series B to Expand its Digital Insurance Company in Africa

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    Nigeria’s Cash Swap Policy: Goals versus Results

    Six Things that could Shape the Northern Nigerian Tech Ecosystem in 2023

    Six Things that could Shape the Northern Nigerian Tech Ecosystem in 2023

    5 Exciting Things That Happened in the Nigerian Tech Ecosystem

    5 Exciting Things That Happened in the Nigerian Tech Ecosystem

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    Flutterwave adds Google Pay to its Payment Options for African Businesses

    Flutterwave adds Google Pay to its Payment Options for African Businesses

    After Receiving Switching and Processing Licence from CBN, Flutterwave includes eNaira to its Payment Options

    After Receiving Switching and Processing Licence from CBN, Flutterwave includes eNaira to its Payment Options

    Flutterwave gets Switching and Processing licence from CBN

    Flutterwave gets Switching and Processing licence from CBN

    Google Expands its Digital Wallet to South Africa

    Google Expands its Digital Wallet to South Africa

    FCCPC Orders Drawdown of Online Credit Companies

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  • START UPS
    WorkPay raises $2.7million Pre-series A Funding to Expand its Services across Africa

    WorkPay raises $2.7million Pre-series A Funding to Expand its Services across Africa

    Naked secures $17 Million Series B to Expand its Digital Insurance Company in Africa

    Naked secures $17 Million Series B to Expand its Digital Insurance Company in Africa

    PressOne Africa raises $600,000 Pre-seed Funding to Support Entrepreneurs

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    ThriveAgric selected West African Winners of the AYuTe Africa Challenge, receiving $1 million.

    ThriveAgric selected West African Winners of the AYuTe Africa Challenge, receiving $1 million.

    Yebo Fresh raises $4.5 million to Supply Fresh Food in South Africa

    Yebo Fresh raises $4.5 million to Supply Fresh Food in South Africa

    Sky.Garden survives Shutdown, gets New Owners

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  • NEWS
    Flutterwave debunks Alleged Reports of Hacked Accounts

    Flutterwave debunks Alleged Reports of Hacked Accounts

    WorkPay raises $2.7million Pre-series A Funding to Expand its Services across Africa

    WorkPay raises $2.7million Pre-series A Funding to Expand its Services across Africa

    Jumba raises $4.5 Million Pre-seed to Expand the supply of Construction materials in Kenya.

    Jumba raises $4.5 Million Pre-seed to Expand the supply of Construction materials in Kenya.

    Naked secures $17 Million Series B to Expand its Digital Insurance Company in Africa

    Naked secures $17 Million Series B to Expand its Digital Insurance Company in Africa

    PICTDA announces Resumption Date for Code Plateau Cohort

    PICTDA announces Resumption Date for Code Plateau Cohort

    Releaf secures $3.3 million Pre-series A funding to improve its Food Processing Technology

    Releaf secures $3.3 million Pre-series A funding to improve its Food Processing Technology

  • FEATURED
    Nigeria’s Cash Swap Policy: Goals versus Results

    Nigeria’s Cash Swap Policy: Goals versus Results

    Six Things that could Shape the Northern Nigerian Tech Ecosystem in 2023

    Six Things that could Shape the Northern Nigerian Tech Ecosystem in 2023

    5 Exciting Things That Happened in the Nigerian Tech Ecosystem

    5 Exciting Things That Happened in the Nigerian Tech Ecosystem

    SmallSmall to Expand to Jos following a $3 Million Seed Raise

    SmallSmall to Expand to Jos following a $3 Million Seed Raise

    The Increase in Data Prices is a Big Challenge for Remote Workers in Nigeria

    How Tobiloba Olusola is making Electronic Health Records Accessible to Patients

    How Tobiloba Olusola is making Electronic Health Records Accessible to Patients

  • BLOCKCHAIN
    Binance now accepts Naira Deposits and Withdrawals

    Binance now accepts Naira Deposits and Withdrawals

    Cardano Accelerator Adaverse Invests in Afriguild’s Mission to Onboard Africans Into Web3

    Cardano Accelerator Adaverse Invests in Afriguild’s Mission to Onboard Africans Into Web3

    Is Africa Ready to Operate a Digital Monetary Policy?

    Is Africa Ready to Operate a Digital Monetary Policy?

    What Binance and TikTok Star, Khaby Lame’s Partnership mean for Crypto and Web3 Adoption

    What Binance and TikTok Star, Khaby Lame’s Partnership mean for Crypto and Web3 Adoption

    PLA2SMART Set to Lead a New Frontier in Nigeria’s Tourism Economy

    Bundle Launches Web App to Give Users More Accessibility to Crypto

    Bundle Launches Web App to Give Users More Accessibility to Crypto

  • FINANCE
    CBN prohibits Foreign Banks from Offering Banking Services

    CBN prohibits Foreign Banks from Offering Banking Services

    Flutterwave adds Google Pay to its Payment Options for African Businesses

    Flutterwave adds Google Pay to its Payment Options for African Businesses

    After Receiving Switching and Processing Licence from CBN, Flutterwave includes eNaira to its Payment Options

    After Receiving Switching and Processing Licence from CBN, Flutterwave includes eNaira to its Payment Options

    Flutterwave gets Switching and Processing licence from CBN

    Flutterwave gets Switching and Processing licence from CBN

    Google Expands its Digital Wallet to South Africa

    Google Expands its Digital Wallet to South Africa

    FCCPC Orders Drawdown of Online Credit Companies

    FCCPC Orders Drawdown of Online Credit Companies

  • START UPS
    WorkPay raises $2.7million Pre-series A Funding to Expand its Services across Africa

    WorkPay raises $2.7million Pre-series A Funding to Expand its Services across Africa

    Naked secures $17 Million Series B to Expand its Digital Insurance Company in Africa

    Naked secures $17 Million Series B to Expand its Digital Insurance Company in Africa

    PressOne Africa raises $600,000 Pre-seed Funding to Support Entrepreneurs

    PressOne Africa raises $600,000 Pre-seed Funding to Support Entrepreneurs

    ThriveAgric selected West African Winners of the AYuTe Africa Challenge, receiving $1 million.

    ThriveAgric selected West African Winners of the AYuTe Africa Challenge, receiving $1 million.

    Yebo Fresh raises $4.5 million to Supply Fresh Food in South Africa

    Yebo Fresh raises $4.5 million to Supply Fresh Food in South Africa

    Sky.Garden survives Shutdown, gets New Owners

    Sky.Garden survives Shutdown, gets New Owners

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Egypt’s fintech platform, Nexta secures $2.2 million funding ahead of Launch

by Ajifa Solomon
March 11, 2022
in News
Reading Time: 4 mins read
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Egypt’s fintech platform, Nexta secures $2.2 million funding ahead of Launch
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Egypt-based disruptive fintech startup, Nexta, has secured a $2.2 million funding in its pre-seed round. 

The round was led by DisrupTech Ventures – a  leading venture capital firm that backs early stage startups- and other international heavyweight financiers. 

Nexta is now set to make its debut entrance into Egypt’s fintech space after securing provisional approval from the Central Bank of Egypt. 

Nexta is also banking on its relationship with Visa, the largest digital banking platform and a state-owned bank as it prepares for launch. 

Its partnership with Visa allows it to leverage Visa’s global network capabilities and introduce state of the art products to its clients.

DisrupTech Ventures Managing Partner, Mohamed El Sayed Okasha notes:

“We believe that Egypt is witnessing a complete phase of digital transformation, thanks to the unprecedented support from the CBE. 

We are confident that Nexta’s strong team is well positioned to pave the way in innovation with its disruptive offerings.” 

According to Malak ElBaba, Egypt Country Manager, Visa,“We are delighted about this partnership with Nexta as it aligns with our strategy to support Fintech as the enablers for financial inclusion, Nexta needed a partner that was committed to helping them breakthrough in the market and deliver something truly different. 

That’s where Visa was able to help with its global network capabilities and cross-market expertise.”

Nexta was founded by Ibrahim Farag and co-founder Ahmed Hisham in 2021 with a strong drive to create a “next generation banking” experience currently unknown to Egypt’s market.

A press release from Nexta explains the functionalities of the fintech, stating that “a Nexta card will aggregate the users’ existing bank accounts, allow for easy and reliable money transfer, and a multitude of other features to come.”

Nexta also promises to “redefine the meaning of user experience for all digital natives and their households throughout Egypt.” 

Founder and CEO of Nexta, Ibrahim Farag said, “This is shaping up to be a highly competitive market. We await the formal announcement of the EKYC and Digital Banking Guidelines to be one of the early applicants.This is a vast market, and we are leading the wave.”

Ahmed Hisham, co-founder of Nexta added, 

“We at Nexta believe that our competitive edge is further highlighted through the mere fact that we have created a strong team, empowered through its diversity in expertise, backgrounds and exposure.

“Nexta pledges to provide a new and wholesome banking experience for numerous market segments and contribute as a significant player to the creation of the Egyptian era of digitisation.”

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