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Egyptian fintech startup Kiwe, a social payment app targeting the unbanked segment, has secured funding from valU, a subsidiary of EFG Hermes Holding that provides a buy now pay later (BNPL) service with a presence in Egypt and Saudi Arabia. It follows an initial investment last year, and Kiwe plans to raise a seed round in the coming months.
Kiwe is a peer-to-peer money exchange app that allows its users to transfer money to each other in real time. The company’s solutions allow users to easily collect, send, and spend money electronically, while also providing small businesses and startups with a digital, simple, and cost-efficient payment platform.