Egypt: Kiwe streamlines payments and savings

By : Adoni Conrad Quenum

Date : jeudi, 03 novembre 2022 12:51

Fintech is currently the most dynamic segment of the African tech ecosystem.  It attracts a significant portion of financings and aims to foster financial inclusion on the continent.  

Kiwe is a fintech solution developed by an Egyptian eponymous startup. It allows its users to transfer money in real-time, and quickly pay SMEs. It also helps event managers collect payments.

"We are strong believers in empowering freelancers and business owners by helping them identify their targets, level up their customer experience, and accept online and offline payments. Our vision is for KIWE to become a verb interchangeable with any word that speaks of payments. We strive to have our customers reach out to their phones instinctively whenever a receipt is printed, a cheque arrives at the table, or a friend’s pay-back is due," Kiwe explained in a release in 2021.

To fulfill its set mission, the startup developed a mobile app, accessible for Android and iOS devices. Once downloaded, the app allows users to register their accounts to start making transactions. In addition to the features mentioned above, the app also allows one-scan transactions, positioning itself as a pretty handy tool for making any type of payment. On PlayStore, it has already been downloaded more than 5,000 times.

Last month, it raised an undisclosed amount from vaIU, a subsidiary of universal bank EFG Herme Holding.  "With its unique offering and simplified, engaging user experience, Kiwe will benefit greatly from leveraging our vast and ever-growing network of vendors. Hence, this is an investment that promises growth for all," said Habiba Naguib, Head of Strategy and Market expansion at valU.

Adoni Conrad Quenum

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