Egyptian fintech startup Flash has raised $6 million in seed funding to expand its product offerings and accelerate its growth in Egypt and beyond
The investment round was led by Addition Capital , a venture capital firm headed by former Tiger Global executive Lee Fixel, Flourish Ventures and strategic angel investors.
Founded in 2021, Flash offers cashless payment solutions through its scan-and-pay service, allowing consumers and businesses to make transactions conveniently using QR codes. The startup is on a mission to eliminate the need for cash and physical cards, providing an alternative to expensive NFC-enabled point-of-sale (POS) systems.
Flash’s flagship product is a mobile app that allows users to make and receive cashless payments at merchants across Egypt. Flash also offers a variety of other financial services, including loans, savings accounts, and insurance. With the new funding, Flash plans to expand its product offerings and accelerate its growth in Egypt and beyond. The company plans to launch new lending, savings, and insurance products.
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