{"id":550231,"date":"2022-10-19T04:01:32","date_gmt":"2022-10-19T04:01:32","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2022\/10\/19\/fintech-nexta-snags-usd-3-mn-from-e-finance-e-commerce-startup-kenzz-lands-usd-3-5-mn-seed-round\/"},"modified":"2022-10-19T04:01:32","modified_gmt":"2022-10-19T04:01:32","slug":"fintech-nexta-snags-usd-3-mn-from-e-finance-e-commerce-startup-kenzz-lands-usd-3-5-mn-seed-round","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2022\/10\/19\/fintech-nexta-snags-usd-3-mn-from-e-finance-e-commerce-startup-kenzz-lands-usd-3-5-mn-seed-round\/","title":{"rendered":"Fintech Nexta snags USD 3 mn from e-Finance + E-commerce startup Kenzz lands USD 3.5 mn seed round"},"content":{"rendered":"

<\/a> Fintech startup <\/strong>Nexta<\/a><\/strong> has closed a USD 3 mn round<\/strong> led by EGX-listed e-payments giant e-Finance, according to a press release (pdf)<\/a>.<\/p>\n

About Nexta: <\/strong>Founded by Ibrahim Farag (LinkedIn<\/a>) and Ahmed Hisham (LinkedIn<\/a>) in 2021, the company allows users to transfer money and aggregate their payment cards into a single Nexta card. The company concluded its first funding round in March, raising USD 2.2 mn<\/a> led by Disruptech.<\/p>\n

E-Finance \u201cattaches great importance to supporting digital banking<\/strong> startups\u201d <\/strong>in line with the central bank\u2019s financial inclusion push, said e-Finance chief Ibrahim Sarhan. E-Finance has been on an aggressive expansion drive since listing, rolling out new lines of business, pushing into new geographies, and looking at what technologies it needs to incorporate into its platform going forward.<\/p>\n

\n

E-commerce startup <\/strong>Kenzz<\/a><\/strong> raised USD 3.5 mn in a seed funding round <\/strong>led by <\/strong>Outliers Venture Capita<\/a><\/strong>l<\/a><\/strong>, according to a statement (pdf)<\/a>. Other participating VCs include HOF Capital<\/a>, Foundation Ventures<\/a>, and Samurai Incubate<\/a>, alongside unnamed angel investors.<\/p>\n

What\u2019s Kenzz? <\/strong>Founded earlier this year by Ahmed Atef, Mahmoud Al Silk and Moataz Sami, the company\u2019s e-commerce platform offers products direct from manufacturers and importers, emphasizing reliability and a sustainable growth model, according to the statement. It aims to bring a social dimension to online shopping by offering steeper discounts to customers who share or buy with friends and family.<\/p>\n

Where will the money go? <\/strong>Kenzz will invest in expanding its team and product range, and to launch a new app.<\/p>\n","protected":false},"excerpt":{"rendered":"

Fintech startup Nexta has closed a USD 3 mn round led by EGX-listed e-payments giant e-Finance, according to a press release (pdf). About Nexta: Founded by Ibrahim Farag (LinkedIn) and Ahmed Hisham (LinkedIn) in 2021, the company allows users to transfer money and aggregate their payment cards into a single Nexta card. The company concluded […]<\/p>\n","protected":false},"author":1,"featured_media":550232,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7258],"tags":[199,339,72,2557,1346,95,123],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-550231","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-startup-watch","tag-e-commerce","tag-e-finance","tag-enterpriseam","tag-kenzz","tag-nexta","tag-startup-watch","tag-startups","wpautop","entry"],"acf":{"mongo_id":"e07679bc-1ae5-4ee1-a8fd-e3b7edbe10f6","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2022\/10\/271.jpg","photo_position":"above","related_issue":[550221],"teaser":"","voice_url":""},"yoast_head":"\nFintech Nexta snags USD 3 mn from e-Finance + E-commerce startup Kenzz lands USD 3.5 mn seed round - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2022\/10\/19\/fintech-nexta-snags-usd-3-mn-from-e-finance-e-commerce-startup-kenzz-lands-usd-3-5-mn-seed-round\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Fintech Nexta snags USD 3 mn from e-Finance + E-commerce startup Kenzz lands USD 3.5 mn seed round\" \/>\n<meta property=\"og:description\" content=\"Fintech startup Nexta has closed a USD 3 mn round led by EGX-listed e-payments giant e-Finance, according to a press release (pdf). 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EFG EV Fintech, EFG Hermes, Tanmiya Capital Ventures and a number of angel investors all participated in the round, which closed after the\u2026","rel":"","context":"In "Startup watch"","block_context":{"text":"Startup watch","link":"https:\/\/enterpriseam.com\/egypt\/category\/companies\/startup-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/3\/171.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":572354,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/06\/22\/egyptian-fintech-startup-moneyfellows-raises-usd-4-mn-in-series-a-round\/","url_meta":{"origin":550231,"position":4},"title":"Egyptian fintech startup MoneyFellows raises USD 4 mn in series A round","author":"enterpriseam admin","date":"22 June 2020","format":false,"excerpt":"STARTUP WATCH- Egyptian fintech startup MoneyFellows has raised USD 4 mn in series A funding from Sawari Ventures and Partech, according to an emailed statement (pdf). MoneyFellows plans to use the funds to finance its expansion in Africa, as well as the roll-out of a \u201cslew of new products in\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":549242,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/09\/08\/endure-capital-reaches-first-close-on-fund-uaes-tabby-lands-in-egypt-and-egyptian-ish-crypto-unicorn\/","url_meta":{"origin":550231,"position":5},"title":"Endure Capital reaches first close on fund + UAE\u2019s Tabby lands in Egypt \u2014 and Egyptian-ish crypto unicorn","author":"enterpriseam admin","date":"8 September 2022","format":false,"excerpt":"Endure Capital has hit first close on its USD 50 mn Endure 21 fund, raising an eight-figure sum, partner Mohamed Noweir (LinkedIn) told us. The fund, which will focus on early-stage startups across Africa, plans to reach second close before the end of the year and then a third close\u2026","rel":"","context":"In "Startup watch"","block_context":{"text":"Startup watch","link":"https:\/\/enterpriseam.com\/egypt\/category\/companies\/startup-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/9\/166.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/550231","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=550231"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/550231\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/550221"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/550232"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=550231"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=550231"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=550231"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=550231"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=550231"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}