{"id":636681,"date":"2024-08-05T00:00:00","date_gmt":"2024-08-05T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2024\/08\/05\/qardy-secures-usd-seven-figure-pre-seed-round\/"},"modified":"2024-08-05T00:00:00","modified_gmt":"2024-08-05T00:00:00","slug":"qardy-secures-usd-seven-figure-pre-seed-round","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2024\/08\/05\/qardy-secures-usd-seven-figure-pre-seed-round\/","title":{"rendered":"Qardy secures USD seven-figure pre-seed round"},"content":{"rendered":"

Qardy banks on f<\/strong>resh pre-seed funding to boost MSME financing:<\/strong> Digital lending marketplace Qardy<\/a> has closed a USD seven-figure pre-seed investment round with participation from White Field Ventures, Vastly Valuable Ventures, and other angel investors, according to a press r<\/a>elease (pdf)<\/a>.<\/p>\n

(Tap or click the headline above to read this story with all of the links <\/strong>to our background as well as external sources.)<\/p>\n

Where\u2019s the money going:<\/strong> The company will use the fresh funds to boost its services in Egypt and fast-track its planned expansion into Saudi Arabia and the rest of the region.<\/p>\n

About Qardy:<\/strong> Founded in July 2022, Qardy is Egypt's first online lending marketplace connecting financial institutions with micro, small, and medium enterprises (MSMEs) seeking funding. The platform has facilitated over EGP 550 mn (USD 12 mn) in loan transactions for more than 6k corporate clients since late 2022. Qardy partners with national and commercial banks, as well as leasing, factoring, and microfinance companies, to offer tailored financial programs supporting MSMEs' working capital and expansion needs.<\/p>\n

What they said:<\/strong> \u201cWe are thrilled to have reached this important milestone in our journey,\u201d said COO Tamer El Manasterly. \u201cThe 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.\u201d <\/p>\n","protected":false},"excerpt":{"rendered":"

Qardy plans to boost its services in Egypt and accelerate its regional expansion with the fresh funds<\/p>\n","protected":false},"author":1,"featured_media":636682,"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":[72,503,8729,95,123],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-636681","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-startup-watch","tag-enterpriseam","tag-financial-services","tag-qardy","tag-startup-watch","tag-startups","wpautop","entry"],"acf":{"mongo_id":"6a2dcea9-be4b-4539-b433-c7d1ba6d0375","order":"6","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/8\/267.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Egypt\u2019s Qardy USD secures seven-figure pre-seed round","related_issue":[636671],"teaser":"Qardy plans to boost its services in Egypt and accelerate its regional expansion with the fresh funds","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/8\/.fb30eac1-03e1-48a5-b92a-ec910aa65845.mp3"},"yoast_head":"\nQardy secures USD seven-figure pre-seed round - 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