FinTech

Raseedi Acquires Kashat to Support Financial Inclusion and Regional Expansion

  • Raseedi Announces Acquisition of Kashat
  • The Deal Aims to Increase Financing for Small Projects
  • Agreement Facilitates Access to Funding Within 5 Minutes via Mobile
  • Agreement Provides Nano Finance Services to Small Business Owners

Raseedi , a fintech startup, has acquired Kashat, a microfinance company and a financial app in Egypt that offers “nano finance” services to small business owners.

Although the financial terms of the deal were not disclosed, it represents a strategic move for Raseedi , which is seeking to strengthen its product offerings.

Kashat’s Role in Enhancing Financial Inclusion

Kashat is a platform that provides microloans to small business owners, allowing them to access instant cash loans up to 3,000 EGP in less than five minutes.

Cashat relies on advanced technologies and local algorithms for creditworthiness assessment, contributing to the acceleration of lending processes and enhancing financial inclusion.

The Acquisition and Its Goals

According to statements from Raseedi , the goal of the acquisition is to introduce instant financing services into its portfolio, expanding its financial offerings.

It is expected that individual business owners will benefit from flexible repayment periods ranging from one to three months.

The company also plans to hire a new managing director to lead Kashat and recruit specialists in credit and risk management.

Plans for Regional Expansion

Ahmed Attallah, CEO of Raseedi , revealed the company’s plans to expand into new markets such as Morocco and Uzbekistan, in addition to markets in Central and West Africa.

Attallah explained that the company is targeting markets with high populations of unbanked individuals, with plans to launch its services in Morocco within the next 12 months.

Increasing User Numbers

Raseedi is currently working on expanding its user base, aiming to increase the number of active monthly users from 120,000 to 1.5 million over the next six to eight months.

The company also plans to reach 3 million active monthly users in the long term.

Expanding Financing Scope

Attallah mentioned that the company intends to negotiate with the Financial Regulatory Authority to raise the maximum loan limit, currently set at 3,000 EGP.

He added that the primary goal is to provide lending opportunities for small and entrepreneurial projects, which will boost economic growth and stimulate innovation.

This deal reflects Raseedi’s commitment to offering innovative financial solutions and supporting entrepreneurs and small business owners.

By combining Kashat’s expertise with Raseedi’s advanced technologies, the company is expected to make a significant impact in the financial inclusion sector, not only in Egypt but also in other regional markets soon.

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