Home News Egypt’s SETTLE Bags $2 Million from Pre-seed Round

Egypt’s SETTLE Bags $2 Million from Pre-seed Round

The round included participation from El Sewedy Capital Holding, Acasia Ventures, and Plus VC.

By Inc.Arabia Staff
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SETTLE, an Egypt-based B2B payment platform, has raised $2 million in a pre-seed funding round led by Shorooq Partners. The round included participation from El Sewedy Capital Holding, Acasia Ventures, and Plus VC.[1]

Read More: How can we effectively promote sustainable B2B products?

Founded in 2023 by Mostafa Mobarak and Kamil Sayour, the platform has processed over EGP 50 million ($1.03 million) during testing in sectors such as construction, energy, and contracting.

With this funding, SETTLE plans to expand into global markets and develop its platform to support CFOs and business owners with real-time financial data.


SETTLE connects ERP systems like Oracle and SAP to businesses’ bank accounts through the Automated Clearing House (ACH), automating payments, receivables, and treasury management.

SETTLE aims to help Egyptian businesses digitize their financial operations, reducing the time it takes to get a clear picture of their cash flow, which can take up to two days with traditional banks.

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