One of the most popular global organizations for private investors, The Cairo Angels zeroed in on supporting startup openings in Egypt, the Middle East, and Africa. They are very excited and charmed to declare their latest interest in the monetary innovation startup Kashat which has been on their plans for some time.
Kashat was founded by Sumair Farooqui and Karim Nour back in 2018 and it is the initiative Nano loaning application in Egypt. The platform has been offering transient credits from 200 EGP to 1500EGP with a reimbursement plan as long as 61 days which has already made a solid client base throughout the MENA region. The item is intended to serve unbanked Egyptians, which contain very nearly 66% of the populace and that’s what makes their intention even more practical.
Founder of Kashat, Sumair Farooqui stated, “We are grateful to Cairo Angels for putting their trust and faith in our mission and becoming part of our journey. We are excited to enter the next phase of our growth where we will continue to innovate to deliver solutions that help enhance opportunities for our users to be included in the wider financial system of Egypt.”
The Chairman of the Cairo Angels, Aly El Shalakany said, “We are pleased to have closed this investment round, which is the largest investment in Cairo Angels’ history. Kashat has been recognized as one of the top Fintech players, has launched a unique product that caters to the Egyptian market’s needs. We are confident in the Kashat team’s ability to succeed in the Egyptian market and beyond.”
