Startup

Egypt’s Edupay Seeks Finance License via $2 Million Round

Edupay previously secured $95,000 in its pre-seed round.

By Inc.Arabia Staff
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Egyptian fintech platform Edupay aims to raise $2 million through a financing round during the first quarter (Q1) of 2024 to secure a consumer financing license so that it can finance its customers directly, CEO Fouad Selim revealed.[1]

Edupay targets financing about 16,000 students in 2024, Selim added.

The number of schools contracting with Edupay currently stands at 24, in addition to several universities, including Nile University.

Founded in 2019, Edupay provides various services related to the education sector, from providing information about educational institutions within Egypt to installments of school, university, and educational course fees within a period ranging from six to 12 months.

Edupay previously secured $95,000 in its pre-seed round.

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