The Egypt-based FinTech and ‘Lifestyle Banking’ pioneer Nexta launched with a $2.2 million Pre-Seed to disrupt the daily digital banking experience and consolidate transactions.
The Pre-Series funding round of Nexa was led by Disruptech, an Egypt-based fintech fund, with the participation of key international backers.
“We believe that Egypt is witnessing a complete phase of digital transformation, thanks to the unprecedented support from the CBE. We are confident that Nexta’s strong team is well-positioned to pave the way in innovation with its disruptive offerings.”
~ Mohamed Okasha, Managing Partner at Disruptech
Nexta was founded by Ibrahim Farag and Ahmed Hisham in 2021 with the aim to reimagine payments and money management in Egypt. The fintech brings a “next-generation banking” experience by enabling “lifestyle banking” right from your phone.
“Nexta pledges to provide a new and wholesome banking experience for numerous market segments and contribute as a significant player to the creation of the Egyptian era of digitization. Our partnership with Visa allows for exchanging expertise and penetrating an upcoming market.”
~ Ahmed Hisham, Founder and Managing Director at Nexta
It focuses on simplifying money management by making money tasks simple, fast, and affordable. A Nexta card will aggregate the users’ existing payment cards, allow for easy and reliable money transfer, and a multitude of other features to come.
“We are proud to secure the trust of the CBE and Visa, and this is only the beginning. This is shaping up to be a highly competitive market. We await the formal announcement of the EKYC and Digital Banking Guidelines to be one of the early applicants. This is a vast market, and we are leading the wave.”
~ Ibrahim Farag, Founder and CEO Nexta
Nexta will utilize its newly acquired funds to launch its digital banking solutions, along with expanding its market and continuing its strategic partnerships.