{"id":637735,"date":"2017-11-23T04:07:10","date_gmt":"2017-11-23T04:07:10","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2017\/11\/23\/fawry-nets-usd-20-mn-in-funding-flat6labs-to-manage-egp-47-mn-startup-initiative-for-uk-embassy-and-ifc\/"},"modified":"2017-11-23T04:07:10","modified_gmt":"2017-11-23T04:07:10","slug":"fawry-nets-usd-20-mn-in-funding-flat6labs-to-manage-egp-47-mn-startup-initiative-for-uk-embassy-and-ifc","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2017\/11\/23\/fawry-nets-usd-20-mn-in-funding-flat6labs-to-manage-egp-47-mn-startup-initiative-for-uk-embassy-and-ifc\/","title":{"rendered":"Fawry nets USD 20 mn in funding, Flat6Labs to manage EGP 47 mn startup initiative for UK embassy and IFC"},"content":{"rendered":"

<\/a> E-payments firm Fawry has locked down USD 20 mn in funding<\/strong> from a \u201cforeign investment fund,\u201d said CEO Ashraf Sabry, according to Daily News Egypt<\/a>. Sabry did not disclose when the funding was closed or who was investing. The funding will be used to finance expansion plans with the aim of processing EGP 25 bn in electronic transactions by the end of the year and opening up branches and setting up infrastructure nationwide.<\/p>\n

Meanwhile, the UK embassy launched a EGP 47 mn startup initiative called \u201cEgypt Starts\u201d in conjunction with the International Finance Corporation, <\/strong>the embassy said in a statement<\/a>. The program, which will be managed by Flat6Labs, will provide mentorship and drum up seed funding for some 150 startups in Egypt. Ambassador John Casson said that the program aims attract EGP 100 mn in private investments. Entrepreneurs interested in the program can apply at http:\/\/www.startegypt.com\/<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

E-payments firm Fawry has locked down USD 20 mn in funding from a \u201cforeign investment fund,\u201d said CEO Ashraf Sabry, according to Daily News Egypt. Sabry did not disclose when the funding was closed or who was investing. The funding will be used to finance expansion plans with the aim of processing EGP 25 bn […]<\/p>\n","protected":false},"author":1,"featured_media":0,"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":[8572],"tags":[72,2380],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-637735","post","type-post","status-publish","format-standard","hentry","category-speed-round","tag-enterpriseam","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"2b2b89fe-67ca-466c-8c44-5ebc31fb0c8f","order":"0","is_powered_by":true,"section_story_id":"b6d32d86-c412-4dfd-addf-fd8ee8b14da6","story_type":"1","photo_url":"","photo_position":"above","related_issue":[637721],"teaser":"","voice_url":""},"yoast_head":"\nFawry nets USD 20 mn in funding, Flat6Labs to manage EGP 47 mn startup initiative for UK embassy and IFC - 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\/2017\/11\/23\/fawry-nets-usd-20-mn-in-funding-flat6labs-to-manage-egp-47-mn-startup-initiative-for-uk-embassy-and-ifc\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Fawry nets USD 20 mn in funding, Flat6Labs to manage EGP 47 mn startup initiative for UK embassy and IFC\" \/>\n<meta property=\"og:description\" content=\"E-payments firm Fawry has locked down USD 20 mn in funding from a \u201cforeign investment fund,\u201d said CEO Ashraf Sabry, according to Daily News Egypt. 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