To further develop platform, Egyptian fintech startup KlickIt received funding
KlickIt, an Egyptian fees management and digital collection platform has announced the completion of its first funding round, which will be used to expand the platform.
KlickIt, which was founded in 2017, is a plug-and-play payment management and digital collection platform. Through its integrated technologies that digitise and streamline end-to-end payment processes, the platform serves as a digital payment’s transformation partner to public and private educational bodies in Egypt and throughout the world.
KlickIt has handled EGP500 million (US $31.8 million) in payments to far, and the business is the preferred partner of over 55,000 educational institutions, including prestigious colleges, schools, and nurseries.
After receiving its first external funding commitments from EFG Finance and Camel Ventures, dfin Holding’s venture capital arm, it is now aiming for even further expansion. The primary goal of the investment is to expand and improve KlickIt’s technology stack, as well as to develop and implement value added services to cross-sell additional services to the company’s wide network of schools and universities and quickly rising clients base.
“We’re very proud to be backed by substantial entities like EFG Finance and dfin’s Camel Ventures, and we thank our investors for their continued support and trust in us,” said Saeed Talaat, co-founder and chief executive officer (CEO) of KlickIt.
“With this investment round, we look forward to solidifying our tech stack and scaling our services. Our partnerships over the last year with GEMS, Banque Misr, and most recently the Egyptian Ministry of Education, have been essential to our growth, and we plan on leveraging these experiences to spearhead the next chapter in our journey.”
EFG Finance CEO Walid Hassouna expressed his pride in investing in KlickIt and supporting its staff.
“They have been proving their determination, grit, and ability to overcome challenges and to crack a highly lucrative market. We believe the future of availing financing through valU on Klickit will provide superb and accessible services to their customer base and help catalyze the growth of the company,” he said.
