Egypt’s Fintech SETTLE Secures USD 2 M in Pre-Seed Funding

SETTLE, an Egypt-based fintech, has raised USD 2 M in a pre-seed funding round led by Shorooq Partners. El Sewedy Capital Holding, Acasia Ventures, and Plus VC participated. Founded in 2023 by Kamil Sayour and Mostafa Mobarak, SETTLE offers a web-based B2B payment platform aimed at modernizing businesses’ financial operations.

The company plans to use the funds to expand into global markets and further develop its platform. Currently in its pre-launch phase, SETTLE claims to have processed over USD 1 M in transactions during its testing phase, working across construction, energy, and contracting industries. The platform aims to streamline payment processes while providing enterprises real-time cash flow insights.