Egyptian-based fintech, Nexta, has secured $2.2 million in investment led by Disruptech and a number of other significant international backers.

The startup was founded in 2021 by Ibrahim Farag and Ahmed Hisham. Nexta has been projected as Egypt's next big thing in the fintech space across the Middle East and North African (MENA) region as experts have also projected a special experience infused with a next-generation banking experience for Egyptians.

The startup is said to provide customers with cards that will combine a user’s existing payment cards and thereby allowing for quick and secure money transfers, as well as a slew of additional benefits. Nexta’s CEO, Ibrahim Farag also revealed that they are honoured to have earned the faith of the CBE and Visa; and that this is just the starting.

READ ALSO - Nigerian Agency Banking, Yep! Secures $1.5M for Expansion

This market is growing up to be fiercely competitive. To be one of the early candidates, the business is waiting for the formal introduction of the EKYC and Digital Banking Guidelines. This is a huge market, and they’re at the forefront of it.

The money will be used to launch Nexta’s much-anticipated digital banking solutions, as well as to assist the company’s plans to boost its market and maintain critical partnerships.