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Nexta, an Egypt-based fintech and next-gen banking platform that focuses on making money management easier for users, secured a $3 million investment.

The investment round was led by e-finance, Egypt’s leading provider of digital payment solutions and the backbone of the Egyptian government’s digital transformation strategy.

This new investment comes after the startup raised a $2 million pre-seed round in March, led by DisrupTech, Egypt’s leading fintech venture capital firm that focuses on investing in fintech and fintech startups. in the start-up phase.

Aiming to disrupt the fintech scene in Egypt and across Africa, Nexta is creating a “next generation banking experience” that will redefine the way digital natives and their households manage money.

By introducing “Next Generation Banking”, Nexta promises a better everyday life by offering what is known as Lifestyle Banking. It will also launch a Nexta card that will enable instant, easy and reliable money transfer, budgeting, expense tracking and a host of other features to come. The digital bank is looking to get its final license in a few weeks, having passed all CBE regulations.

Speaking on Nexta’s recent investment, lead round, e-finance CEO Ibrahim Sarhan said: “Nexta is among the promising companies financed by the Group through several targeted investments. .

“It should be noted that the Group participated in the creation of Nclude, an investment fund to invest in emerging fintech companies, thus improving the current and future direction of fintech in Egypt.

Also commenting on its funding round led by e-finance, Nexta CEO Ahmed Hisham said, “I wouldn’t call it a funding round. It is more of a strategic partnership.

“e-finance has established itself as an integral partner in the Egyptian government’s push towards digitalization by developing integrated platforms that are leading the digital revolution in Egypt. We are very happy to have them on board. We are already part of this nationwide digital transformation.

“The demand for digital financial services is increasing day by day, we believe there is a huge opportunity for us to provide a differentiated and exceptional experience to different users in such a promising market.”

Born out of a desire to redefine payments and money management in Egypt, Nexta is constantly evolving its suite of tools as well as constantly upgrading and introducing new features to simplify the management of the money for users.