Hollydesk, an Egyptian financial firm, has acquired $1 million in venture loan funding from unidentified investors to increase its product line and clientele.
Hollydesk, a platform for cost management created in 2020 by Mahmoud Moussa, enables businesses to automate approval procedures and produce reports to examine spending trends.
Several businesses have already benefited from the startup’s assistance in terms of time savings, fraud reduction, and better expenditure management. Businesses that use Hollydesk alone spent EGP130 million (US $4.2 million) on the platform in 2022.
To assist more small and medium-sized companies (SMBs) in the nation manage and analyze their daily spending, it has already received US $1 million in venture loan funding. With the additional investment, Hollydesk will be able to serve more businesses that require effective expenditure management solutions.
“Our mission is to help small and medium-sized businesses focus on what they do best by streamlining their expense management processes. With this new funding, we can expand our reach and help even more companies across Egypt,” said Moussa.
