Kashat, an Egypt-based fintech has raised $1.75 million in a private bridge round led by Launch Africa alongside participation from regional investors among them Cairo Angels.
Kashat is an Egypt-based fintech startup backed by Pharos Holding (a Cairo-based financial group) and Planet N Group (a Pakistani-tech firm), working at the forefront of promoting financial inclusion by offering nano financial services such as small loans that target the unbanked and underbanked.
Since its 2019 launch, Kashat set off on a mission to impact financial inclusion in Egypt and the Arabic speakers at large by targeting over 70 percent of the country’s population.
Kashat will use the newly acquired funds to support and develop its platform and expand operations. Africa’s fintech scene has witnessed a phenomenal rise in investment resulting in several mushrooming unicorns such as the recent $200m raise by the US-Senegal startup Wave in what was the largest Serie A round in the francophone region.
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