Cairo-based payments platform Kashier has raised seed funding in the tune of six figures. This round was led by Glint Ventures and several other undisclosed players. The fintech startup offers simple yet highly efficient tools for its businesses and will channel the funds raised to expand its workforce and introduce new products.
Kashier was founded in 2017, as a product of Elements Financial Technologies. The platform aims to build a futuristic financial infrastructure that combines both technology and innovation capabilities.
The adoption of online payments in Egypt is on the rise, even before the pandemic took hold. Those who operate online shops can rely on Kashier to pay them online.
The fintech startup went live in 2019 after getting the green light as a Payment Service Provider and Payment Facilitator by the Egyptian Central Bank. It is also in a strategic partnership with two Egyptian banks.
Businesses that lack a website can use the Kashier platform to make payment requests then share it with their customers through email, social media platforms, and SMS. Customers can then choose any of Kashiers payment options on their page.
The payments platform supports MasterCard, Visa, and Meeza. Ensuring those with international cards can use it too. Charges are at 2.85 percent plus an additional EGP 3 per successful transaction. There is no setup or monthly fee required of any subscriber.