Qardy, a trailblazer in Egypt’s digital lending landscape, has announced the successful completion of a seven-figure pre-seed funding round. This investment was spearheaded by White Field Ventures and Vastly Valuable Ventures, along with contributions from several angel investors. This milestone underscores trust in Qardy’s financial service model and its promising growth trajectory.
Qadry was launched in 2022 by Abdelaziz Abdel Nabi, Asser Yehia, and Tamer El-Manasterly. The marketplace quickly established itself as a reliable ally for micro, small, and medium-sized enterprises (MSMEs) as well as financial institutions. The platform has successfully onboarded over 1,000 corporate clients and has facilitated loan transactions exceeding 550 million Egyptian pounds (around $12 million).
“We are thrilled to have reached this important milestone in our journey,” stated Tamer El-Manasterly, COO of Qardy.
The backing and confidence of investors has played a crucial role in propelling Qadry’s growth, and this funding will empower the company to improve services and expedite expansion in KSA and the surrounding region, Tamer added.
Qardy aims to revolutionise the delivery of financial services in Egypt. The platform provides a diverse range of customised financial solutions aimed at meeting the working capital and expansion requirements of MSMEs. These offerings are made available through a broad network of financial institutions, including national and commercial banks, leasing companies, factoring firms, and microfinance entities.
Commenting on the investment, White Field Ventures Managing Director Kapil Agrwal said, “We are thrilled to stand behind Qardy’s exceptional team as they drive forward with their vision to transform the lending sector in the region. Qardy’s adept execution capabilities and unwavering commitment to customer-centric solutions are in perfect alignment with our investment ethos.“
Demonstrating their dedication to Qardy, Amal Dokhan, Managing Partner at 500 Global, expressed enthusiasm for supporting the digital lending marketplace in its mission to provide businesses with effective and accessible financial solutions.
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