Egyptian startup Qardy partners Cashcall to finance small businesses
Qardy, an Egyptian startup serving as a marketplace and aggregator for debt financing, has formed a partnership with CashCall to provide support for micro, small, and medium enterprises (MSMEs). Established in July 2022, Qardy specializes in facilitating loans for MSMEs, aspiring to become the "Amazon of lending."
CashCall, Qardy's new partner, operates an inclusive financial multi-purpose platform through B2B, B2C, and B2M modules. The platform offers a variety of solutions, including a payment network, gateway, aggregation, open finance hub, request to pay, and a cashless app.
This collaboration aims to provide advanced solutions tailored to the financial requirements of CashCall's merchants and customers, offering them access to a diverse range of customized financial instruments. Qardy has chosen CashCall for its AI competency center, dedicated to analyzing user data and behavior to enhance the financial services it provides.
Key Takeaways
Lack of access to working capital remains a huge problem facing the growing small and mid-sized retail sector in emerging and frontier markets, including Africa. Available data shows a $330 billion financing deficit for the small enterprises that make up 90% of businesses on the continent—and it’s a problem several startups and foreign investors are particularly keen to address as it promises attractive returns.
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