Egyptian Fintech Telda Raises USD 20 M

Egypt-based fintech company Telda raised USD 20 M in seed funding from Block (previously Square), Global Founders Capital (GFC) and Sequoia Capital.

Founded in 2021 by Ahmed Sabbah and Youssef Sholqamy, the fintech enables users to send or receive money using its mobile wallet. It has also introduced an international card in association with Mastercard. The startup is looking to capture the rising digital spends in Egypt.

This funding round comes a year after Telda raised Pre-Seed of USD 5 M.