Egyptian-based fintech, KIWE has closed its first investment round with investment led by dfin Holding and participation from Enterprise Finance Guarantee (EFG) Hermes, Marakez for Development, and a group of other angel investors.

According to the startup, the funds will be used to help achieve its aim by leveraging the offerings of its investors, such as dfin’s and Marakaz’s portfolios, as well as EFG’s Valu as a payment option.

Digital Finance Holding (dfin) is a financial technology company and one of MENA's largest financial services companies is EFG Hermes.

Also, Marakez is Egypt’s most prominent mixed-use developer, with a portfolio of commercial and residential developments.

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The P2P based startup is on a mission to establish a cashless ecosystem by partnering with large number of businesses and providing customers with the safest, easiest, and most enjoyable payment experience possible.

KIWE also believed in empowering freelancers and small business owners by assisting them in identifying their goals, improving their customer experience, and accepting online and offline payments.

The goal is for KIWE to become a phrase that may be used interchangeably with any word related to payment and financing across Egypt.