Egypt-based fintech Qardy has successfully raised a seven-figure pre-seed round, with investments from White Field Ventures, Vastly Valuable Ventures, and other angel investors. Founded in 2022 by Abdelaziz Abdel Nabi, Asser Yehia, and Tamer El-Manasterly, Qardy is a digital lending marketplace that provides micro, small, and medium-sized enterprises (MSMEs) with financing solutions to scale their growth. This new capital will enable Qardy to enhance its platform capabilities and expand its service offerings to other MENA countries.
As the first digital lending marketplace in Egypt and the MENA region, Qardy connects financial institutions with MSMEs seeking funding. Since its soft launch in late 2022, Qardy has quickly established itself as a trusted partner for MSMEs and financial institutions, boasting over 1,000 corporate clients and executing over 550 million Egyptian pounds (approximately $12 million) in loan transactions.
Qardy is dedicated to revolutionizing financial services in Egypt through its cutting-edge technology, offering a wide range of tailored financial programs to support MSMEs with their working capital and capital expansion needs. The platform’s extensive network includes national and commercial banks, leasing companies, factoring firms, and microfinance institutions.
“We are thrilled to have reached this important milestone in our journey,” said Tamer El-Manasterly, COO of Qardy. “The support and trust of our investors have been instrumental in driving our growth and enabling us to expand our reach and impact in the market. This investment will allow us to further enhance our services and accelerate our plans for expansion in KSA and the region.”
500 Global, expressing their belief in Qardy’s mission to democratize access to financial services, said, “We are thrilled to support Qardy in their journey towards empowering businesses with accessible and efficient financial solutions. We are confident in their ability to drive positive change in the fintech sector,” stated Amal Dokhan, Managing Partner at 500 Global.
White Field Ventures also expressed enthusiasm for partnering with Qardy. Kapil Agrawal, Managing Director, shared, “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 align perfectly with our investment ethos. We are excited about Qardy’s achievements and are fully prepared to support their expansion into KSA. We are confident in their ability to achieve continued success.”
With a strong focus on transparency, efficiency, and customer satisfaction, Qardy has quickly gained a reputation for excellence in the financial services sector.