• About
  • Advertise
  • Careers
  • Contact Us
Monday, June 23, 2025
  • Login
No Result
View All Result
NEWSLETTER
Tech | Business | Economy
  • News
  • Tech
    • DisruptiveTECH
    • ConsumerTech
    • How To
    • TechTAINMENT
  • Business
    • Telecoms
    • Mobility
    • Environment
    • Travel
    • StartUPs
      • Chidiverse
    • TE Insights
    • Security
  • Partners
  • Economy
    • Finance
    • Fintech
    • Digital Assets
    • Personal Finance
    • Insurance
  • Features
    • IndustryINFLUENCERS
    • Guest Writer
    • EventDIARY
    • Editorial
    • Appointment
  • TECHECONOMY TV
  • Apply
  • TBS
  • BusinesSENSE For SMEs
  • Chidiverse
  • News
  • Tech
    • DisruptiveTECH
    • ConsumerTech
    • How To
    • TechTAINMENT
  • Business
    • Telecoms
    • Mobility
    • Environment
    • Travel
    • StartUPs
      • Chidiverse
    • TE Insights
    • Security
  • Partners
  • Economy
    • Finance
    • Fintech
    • Digital Assets
    • Personal Finance
    • Insurance
  • Features
    • IndustryINFLUENCERS
    • Guest Writer
    • EventDIARY
    • Editorial
    • Appointment
  • TECHECONOMY TV
  • Apply
  • TBS
  • BusinesSENSE For SMEs
  • Chidiverse
No Result
View All Result
Tech | Business | Economy
No Result
View All Result
ADVERTISEMENT
Home Business StartUPs

Egyptian Fintech Swypex Raises $4 Million Seed Funding to Disrupt Corporate Card Market

by Joan Aimuengheuwa
May 7, 2024
in StartUPs
0
Egyptian Fintech Swypex Raises $4 Million Seed Funding to Disrupt Corporate Card Market
Swypex

Swypex

UBA
Advertisements

Egyptian fintech startup Swypex has emerged from stealth mode, announcing a $4 million seed funding round led by venture capital firm Accel. 

Swypex, an all-in-one financial management platform with corporate cards and spending management tools designed specifically for businesses, will leverage the fund to enhance corporate finance in Egypt.

Unlike traditional options, Swypex allows companies to issue an “unlimited” number of cards for employees and set granular spending controls. The platform integrates with the government’s e-invoicing system, providing businesses with a consolidated view of all expenses and spending data.

Egyptian Fintech Swypex Raises $4 Million Seed Funding to Disrupt Corporate Card Market
Advertisements
MTN ADS
Swypex co-founders

“We saw a gap in the market for a comprehensive B2B solution,” said Ahmad Mokhtar, CEO of Swypex, who co-founded the company with Tarek Mokhtar (CPO) and Sasan Hezarkhani (CTO). “Businesses were stuck using outdated banking services or relying heavily on cash, leading to inefficiencies and lack of visibility over spending.”

Swypex’s entry into the market coincides with a push by the Central Bank of Egypt (CBE) to reduce cash-based transactions and encourage digital payments. Initiatives like the Instant Payment Network (IPN) have created a favourable environment for fintech companies like Swypex to offer innovative financial solutions.

The $4 million funding, along with the founders’ experience in developing products for global tech giants like Twitter and PlayStation, positions Swypex for efficient growth.

The company is targeting a slice of the Egyptian card and payments market valued at over $10 billion, which is expected to grow 10% annually for the next three years.

With its focus on user experience, advanced spending controls, and data-driven insights, Swypex seeks to disrupt the corporate card industry in Egypt and potentially become the go-to company across the Middle East.

 

Loading

Author

  • Joan Aimuengheuwa
    Joan Aimuengheuwa

    Joan thrives at helping individuals and businesses scale via storytelling...

    View all posts
0Shares
Tags: AccelAhmad MokhtarCorporate Card MarketFintech startupSasan HezarkhaniSwypexTarek Mokhtar
Joan Aimuengheuwa

Joan Aimuengheuwa

Joan thrives at helping individuals and businesses scale via storytelling...

Next Post
unveiling of Fund for Export Development in Africa - FEDA

David Adonri on How Nigeria Can Benefit From Export Fund ‘FEDA’

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

I agree to the Terms & Conditions and Privacy Policy.

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Recommended

WSA winner 2022 from Nigeria

Nigeria’s ZamTracka and Laborhack among 40 WSA Winners 2022

3 years ago
Afreximbank Backs Fidelity Bank with $40 million on Acquisition of Union Bank [UK]

Afreximbank Backs Fidelity Bank with $40 million on Acquisition of Union Bank [UK]

1 year ago

Popular News

    Connect with us

    • About
    • Advertise
    • Careers
    • Contact Us

    © 2025 TECHECONOMY.

    No Result
    View All Result
    • News
    • Tech
      • DisruptiveTECH
      • ConsumerTech
      • How To
      • TechTAINMENT
    • Business
      • Telecoms
      • Mobility
      • Environment
      • Travel
      • StartUPs
        • Chidiverse
      • TE Insights
      • Security
    • Partners
    • Economy
      • Finance
      • Fintech
      • Digital Assets
      • Personal Finance
      • Insurance
    • Features
      • IndustryINFLUENCERS
      • Guest Writer
      • EventDIARY
      • Editorial
      • Appointment
    • TECHECONOMY TV
    • Apply
    • TBS
    • BusinesSENSE For SMEs

    © 2025 TECHECONOMY.

    Welcome Back!

    Login to your account below

    Forgotten Password?

    Retrieve your password

    Please enter your username or email address to reset your password.

    Log In
    Translate »
    This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.