KIWE, an Egyptian fintech company, has secured its first round of investment, which it will utilise to accelerate its expansion by leveraging its investors’ offers.
KIWE is a peer-to-peer money exchange software that allows users to send money to each other in real-time. It was founded in March 2021 by Fatma Khalifa, Omar Kamel, and Mohamed Khalifa.
In a statement, the company claimed it was on a “mission” to build a cashless environment through a large merchant network, giving customers the safest and easiest payment experience possible.
“We are strong believers of 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 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,” the statement said.
To help make that a reality, the company has raised its first round of funding, led by dfin Holding, and included EFG Hermes, Marakez for Development, and a group of angel investors. The money will be used to help the firm develop by leveraging its investors’ resources.
“Through this strategic consortium of investors, we target to catapult the growth of KIWE by deploying dfins’ tech-based financial services portfolio, utilizing EFGs’ Valu as a key payment method, and rolling out across Marakez’s portfolio of commercial and residential projects – a perfect fit to help drive our mission towards a stronger e-payments future,” the startup said.
