Cairo-based fintech Hollydesk raises $325,000

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RIYADH: Egyptian financial technology company Hollydesk has closed a $325,000 pre-seed investment round.

The round was led by the angel investor Faisal Abdel Salam in participation with others.

Hollydesk is Egypt’s first financial technology company in the field of managing small and medium enterprises’ expenses and accounts to get funded.

The money will support Hollydesk’s expansion plans into other countries in the region, CEO Mahmoud Moussa told Wamda.

“We will use the new funding to assign new competencies within the team, and launch other services that will be announced soon with major Egyptian banks,” Moussa added.

Founded in 2021, the company provides technology solutions to help small and medium-sized businesses monitor and control a company's daily expenses anywhere.

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