Egyptian Lending Marketplace Qardy Surpasses A Pre-Seed Round Of Investments
Qardy, the first digital lending marketplace in Egypt and the MENA region for financial institutions to fund MSMEs (Micro, Small, and Medium Enterprises), is proud to announce that it has successfully secured a $ 7-figure pre-seed round of investment, with participation from White Field Ventures and Vastly Valuable Ventures among other Angel Investors. This significant milestone underscores the confidence that investors have in Qardy’s innovative approach to financial services and its potential for growth.
Since their soft launch in late 2022, Qardy has quickly established itself as a trusted partner for MSME’s and financial institutions. Qardy has over 1,000 corporate clients on its platform, and have executed over 550,000,000 Egyptian pounds (approximately USD12 Million) in loan transactions.
Qardy has been dedicated to revolutionizing the way financial services are delivered in Egypt. Through their cutting-edge technology, they offer a wide range of tailored financial programs to support MSMEs (Micro, Small, and Medium Enterprises) with their working capital, and capital expansion needs. They do this through their broad network of financial institutions, which includes National and commercial banks, leasing, factoring, and Micro finance companies.
“We are thrilled to have reached this important milestone in our journey,” said Tamer El-Manasterly, COO of Qardy. “The support and trust of our investors have been instrumental in driving our growth and enabling us to expand our reach and impact in the market. This investment will allow us to further enhance our services, as well as accelerate our plans for expansion in KSA and the region.”
In a statement reflecting their commitment to Qardy, 500 Global expressed their belief in its mission to democratize access to financial services. Amal Dokhan, Managing Partner at 500 Global, says: “We are thrilled to support Qardy in their journey towards empowering businesses with accessible and efficient financial solutions. We are confident in their ability to drive positive change in the fintech sector.”
In a statement regarding the investment, White Field Ventures expressed their enthusiasm for partnering with Qardy and their belief in the company’s mission to disrupt the lending landscape in Egypt and the KSA. Kapil Agrawal, Managing Director, shared: “We are thrilled to stand behind Qardy’s exceptional team as they drive forward with their vision to transform the lending sector in the region. Qardy’s adept execution capabilities and unwavering commitment to customer-centric solutions are in perfect alignment with our investment ethos. We are excited about the achievement Qardy has reached and are fully prepared to support their expansion into the KSA. We are confident in their ability to achieve continued success.”
With a strong focus on transparency, efficiency, and customer satisfaction, Qardy has quickly gained a reputation for excellence in the financial services sector.
