back Back

Nexta secures $3m investment

By Edlyn Cardoza

October 20, 2022

  • Banking App
  • Digital Financial Services
  • Digital Payments Solutions
Share

Nexta, Banking App, e-finance, Digital Transformation, Digital Payments Solutions, Money Transfer, Digital Financial Services, Nexta Card, EgyptNexta, Egypt’s upcoming banking app, announces securing a $3 million investment. The investment was led by e-finance, one of Egypt’s leading providers of digital payments solutions and the backbone of the Egyptian government’s digital transformation strategy.

Founded by Ahmed Hisham in 2021, with a strong team and visionary BOD, Nexta is expected to launch soon & disrupt the Egyptian FinTech scene by creating what is currently unknown to many Egyptians, a next-generation banking experience. Introducing next-generation banking, Nexta promises better everyday lives by providing what is known as ‘lifestyle banking.’ A Nexta card will allow instant, easy, and reliable money transfer, budgeting, tracking spending, and many other features.

Ahmed Hisham, CEO of Nexta, said, “I wouldn’t call it a funding round. It is more of a strategic partnership. e-finance has cemented itself as an integral partner in the Egyptian government’s push for digitisation by developing integrated platforms that are leading Egypt’s digital revolution. We are very glad to have them on board. We are already part of that nationwide digital transformation!”

The upcoming FinTech giant is looking to get its final license in a few weeks after satisfying all CBE’s regulations. The investment is set to tide Nexta over until its official launch.

Ibrahim Sarhan, e-finance’s Chairman and CEO, stated that the Group attaches great importance to supporting FinTech innovations and its emerging projects. This aligns with Egypt’s digital transformation plan and Egypt Vision 2030, which maximises the Group’s assets and investments with a diverse portfolio in the FinTech field.

“Nexta is among the promising companies financed by the Group within several targeted investments. It’s worth noting that the Group took part in establishing Nclude—an investment fund—to invest in emerging fintech companies, thus improving the current and future direction of fintech in Egypt,” said Ibrahim Sarhan, e-finance’s Chairman and CEO.

Hisham added, “The demand for digital financial services is increasing day by day, we believe that there exists a huge opportunity for us to offer a differentiated and outstanding experience to different users in such a promising market.”

Previous Article

October 20, 2022

World Cloud Show hosted experts and honoured tech innovators for their constant endeavours

Read More
Next Article

October 20, 2022

Crunch launches new personal finance management app

Read More








IBSi Daily News Analysis

Saudi Arabia, banks,

February 26, 2024

Banking App

UAE banking pulse: robust growth and profitability signal positive outlook

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

Today

Vietnam International Bank, Temenos & AWS to drive digital banking innovation

Read More

Today

Raqami Islamic Digital Bank taps Codebase Technologies’ Digibanc platform

Read More

February 23, 2024

Vencora acquires CREALOGIX to expand its banking technology services

Read More

Related Reports

Sales League Table Report 2023
Know More
Global Digital Banking Vendor & Landscape Report Q4 2023
Know More
Wealth Management & Private Banking Systems Report Q4 2023
Know More
IBSi Spectrum Report: Supply Chain Finance Platforms Q4 2023
Know More
Treasury & Capital Markets Systems Report Q4 2023
Know More

IBSi Sales League Table

The industry acknowledged barometer of global banking technology vendor performance!
Get your copy now!
close-link
Get your copy now! IBSi Sales League Table 2023