Financial Technology

FinTech, payments, digital banks, financial infrastructure, and innovation in financial services.

37 Articles

AMAN, Bokra, and Erada Finance Join Program to Pilot Venture Debt Financing in Egypt

AMAN Holding, Bokra, and Erada Finance have joined the Scale It Forward program developed by GIZ Egypt and enpact to introduce venture debt financing into Egypt’s growing companies ecosystem. The program will begin by piloting financing of at least the equivalent of €5,000 per company, alongside €5,000 in non-repayable support.

2026-09-15

Financial Technology

Egypt Requires Consumer Finance and Enterprise Finance Providers to Establish Real-Time Connectivity with I-Score

The Financial Regulatory Authority issued two decisions requiring consumer finance providers and providers financing small, medium-sized and micro enterprises to update financing data with I-Score in real time, giving them three months to complete the electronic connection after the decisions are published and enter into force.

2026-09-12

Financial Technology

Vodafone Cash Accounts for 53% of Mobile Wallets and 77% of Their Value in Egypt During the First Half of 2026

Data from the National Telecom Regulatory Authority showed Vodafone Cash leading Egypt’s electronic wallet market during the first half of 2026, with a 53% share of total wallets, 69% of the number of transactions, and 77% of their value. The market as a whole recorded annual growth in the number of wallets, transactions, and financial value.

2026-09-09

Financial Technology

Egypt’s Mobile Wallets Record EGP 2.96 Trillion in Transactions During the First Half of 2026

A report by the National Telecom Regulatory Authority showed that the number of mobile wallets in Egypt reached 57.01 million, with 2.22 billion transactions worth EGP 2.96 trillion carried out during the first half of 2026. Vodafone Cash led the market in the number of wallets and transactions and their value, alongside expanded use of wallets for transfers and government services.

2026-09-09

Financial Technology

Egyptian Financial Regulatory Authority’s Lab Receives 49 Projects During Its First Year

The first annual FRA-Sandbox Summit reviewed the results of a year of work by the regulatory laboratory for non-bank financial fintech, including receiving 49 projects, granting preliminary approval to 9 projects, and moving two projects to live testing. In the next phase, the authority is focusing on artificial intelligence and digital analytics solutions while tightening compliance and data protection requirements.

2026-09-08

Financial Technology

Launch of the Maldives’ First Commercial Digital Bank with Technology Support from Banknbox

Maldives Premier Bank has begun operating as the Maldives’ first digital commercial bank after Banknbox completed building its technology ecosystem within three months. From its first day, the bank has provided digital banking services for retail, premium and corporate customers, in addition to payments, lending and risk management.

2026-09-08

Financial Technology

Sav Raises $3.5 Million to Fund Its Expansion from the UAE to Saudi Arabia

UAE fintech company Sav has raised $3.5 million in a pre-Series A round led by Phoenix Venture Partners, bringing its total funding to approximately $6 million. The company will direct most of the investment toward entering the Saudi market and developing its AI-based products and infrastructure across the Gulf.

2026-09-07

Financial Technology

Egypt’s Financial Regulatory Authority Issues Unified Guide to Consumer Finance Rules

Egypt’s Financial Regulatory Authority has issued the first comprehensive guide bringing together the regulatory requirements for consumer finance activities in Egypt, including licensing, governance, financial solvency, customer protection, digital transformation, and cybersecurity.

2026-09-05

Financial Technology

Salla Acquires Saudi Payments Company Paylink to Expand Its Financial Services

Saudi e-commerce platform Salla has acquired Saudi Central Bank-licensed fintech company Paylink, aiming to integrate its payments infrastructure into the platform’s commerce ecosystem. The move will focus on accepting and managing payments through electronic and physical channels, with support for SoftPOS, international payments, and multiple currencies.

2026-09-04

Financial Technology

WhatsApp Remittance Platform Félix Raises $200 Million in a Round Led by a16z and General Catalyst

Félix, an AI-powered money transfer platform operating through WhatsApp for Latino immigrants, has raised $200 million in a Series C round, approximately half in equity investment and half in debt financing. The company plans to use the capital to expand its services and enter new markets in Latin America.

2026-09-01

Financial Technology

Aajil Capital Obtains CMA License to Manage Investments in Saudi Arabia

Aajil Capital has obtained a license from the Saudi Capital Market Authority to conduct investment management activities, but has not yet begun regulated activities, as it must complete the requirements for commencing operations. The company intends to provide Sharia-compliant investment management services focused on the small and medium-sized industrial enterprises sector, leveraging the data and supply network of its sister company, Aajil.

2026-09-01

Financial Technology

Bolt Seeks to Raise $27 Million in Bridge Funding Round Led by Ryan Breslow

Ryan Breslow is trying to rescue payments processing company Bolt through bridge financing of up to $27 million, including a personal contribution of $5 million and a provision requiring investors to participate to protect their stakes. The move comes after the company’s valuation fell from $11 billion to approximately $300 million and its headcount was reduced from 900 to roughly 60.

2026-08-31

Financial Technology

Syria Executes First International Mastercard Payment After a Suspension Exceeding 15 Years

Mastercard and QNB Group announced the successful completion of the first purchase at a local Syrian store using an international Mastercard, following the completion of reconnecting Syria’s payment system to the global network. The step marks the transition of international card acceptance in Syria from infrastructure readiness to actual use.

2026-08-27

Financial Technology

“Hawiya” Paves the Way for Digital Financial Verification Through Banking Apps in Egypt

Hawiya, a company affiliated with the Central Bank of Egypt, is preparing to launch a pilot phase for a digital financial identity system that enables biometric verification, account opening, data updates, and transaction authentication through participating banks’ applications. The company has not yet specified the final launch date or the names of the banks participating in the first phase.

2026-08-25

Financial Technology

India’s Navi Raises $100 Million from Prosus in Its First Institutional Funding Round

Indian fintech company Navi has secured a $100 million investment from Prosus in a deal valuing the company at approximately $1.3 billion, as it reportedly prepares for an initial public offering.

2026-08-19

Financial Technology

UAE-based Naran Raises $10 Million to Finance Expansion in Emerging Mobility Markets

Naran secured $10 million through a combination of equity and debt financing from Landel to expand vehicle and motorcycle financing for ride-hailing and delivery drivers in Latin America and Africa. The company plans to enter the Middle East and North Africa region and make its fleet-management platform available to third-party operators.

2026-08-19

Financial Technology

India Paves the Way to Reshape the Revenue Model for the UPI Instant Payments Network

New Indian legislation lays the legal groundwork for potentially imposing fees on some merchant payments through the UPI network, after these payments remained free since 2020. The legislation does not specify the fees or covered transactions, but estimates suggest it could generate up to $1 billion annually by fiscal year 2028.

2026-08-04

Financial Technology

India’s Payments Chief: AI Will Drive the Next Phase of UPI Growth

Dilip Asbe, chief executive of NPCI, which oversees the UPI system, believes artificial intelligence will be central to attracting new users, combating fraud, and expanding access to credit as India seeks to surpass one billion daily transactions. He also called for clear regulatory frameworks to adopt AI-backed finance and for the development of specialized small language models within the country’s financial sector.

2026-06-28