Egyptian Fintech Swypex launches; Raises USD 4 M Seed Round

Egypt-based fintech Swypex announced its launch following a USD 4 M seed investment round, led by the renowned venture capital fund Accel, with participation from Foundation Ventures, The Raba Partnership, and angel investors.

Swypex, founded in 2022 by Ahmad Mokhtar, Tarek Mokhtar and Sasan Hezarkhani, is a B2B all-in-one financial management platform that consolidates payments, invoice management, and smart corporate cards. Swypex consolidates payments, invoice management, and smart corporate cards on a unified platform. Their products simplify financial management, empowering businesses to automate financial workflows and make payments with ease. Swypex’s corporate cards are built specifically for Egyptian businesses, designed to reduce costs, elevate operational efficiency, and facilitate scalable growth. 

After closing the Seed round, Swypex will launch its operations in the Egyptian market after securing the CBE’s licence as a comprehensive platform designed to eliminate financial inefficiencies.