Swypex Launches After Securing $4M Seed Funding
1 min
- Swypex launched with $4 million in funding, led by Accel.
- It provides a unified platform for payments, invoices, and corporate cards.
- The platform aims to reduce financial inefficiencies and fraud.
- New businesses receive three free corporate cards.
Swypex, a fintech platform licensed by the Central Bank of Egypt, has launched after securing a $4 million seed investment led by Accel. Other investors include Foundation Ventures, The Raba Partnership, and prominent angel investors. This is Accel’s first fintech investment in the region.
Swypex consolidates payments, invoice management, and corporate cards into a unified platform, streamlining financial management for Egyptian businesses. Their services aim to cut costs, enhance efficiency, and facilitate scalable growth.
With 3.8 million businesses struggling under outdated financial systems and fraud costing them 5% of annual revenue, Swypex’s all-in-one platform aims to be the solution. CEO Ahmad Mokhtar emphasizes that Swypex will empower businesses to improve financial health and simplify operations.
Accel's Richard Kotite praised the founders' technical expertise and said they spotted a significant gap in the market, positioning Swypex as a future fintech leader in the Middle East.
Businesses can open an account today and receive three free corporate cards.
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