Hollydesk, an Egyptian finance company, has raised $325,000 in pre-seed capital to assist its intentions to expand into other countries in the region.
Hollydesk, founded in June 2021 by Mahmoud Moussa, is a smartphone app that helps SMEs to track and control their daily spending as well as pay their staff.
After obtaining US $325,000 in capital from angel investor Faisal Abdel Salam and other investors, the business has attracted over 3,000 clients in industries such as construction and distribution and now wants to grow into other areas.
“We seek to use the new funding to develop technologies for our solutions, assign new competencies within the team, and launch other services that will be announced soon with major Egyptian banks, which is in line with the Egyptian government’s plans to achieve financial inclusion, especially for workers within small and medium companies,” said Mahmoud Moussa, chief executive officer (CEO) of Hollydesk.
“We see a great opportunity in the field of digitising the part of following up on companies’ expenses, and this is only the beginning, and we aspire to what is greater than that by providing other solutions such as financing and other solutions to help these companies achieve greater growth for this sector.”
