$4 million was raised in seed investment by Swypex, a payments and financial process automation platform provider located in Cairo, Egypt.
Investors
- Accel (led the round)
- Foundation Ventures
- The Raba Partnership
- angel investors
Use of funds
The money will be used by the business to increase operations and development initiatives.
About Swypex
Founded by Sasan Hezarkhani (CTO, former Twitter), Tarek Mokhtar (CPO, former Spotify), and Ahmad Mokhtar (CEO, former PlayStation), Swypex offers a platform that unifies financial tools for businesses, including corporate cards, business accounts, and invoice management. It gives companies immediate access to:
- Smart corporate cards: Provide cards with integrated real-time tracking and sophisticated card controls that enable companies to manage spending before it happens and lessen their need on cash outlays.
- Entire financial dashboard: a centralized perspective of a company’s finances that helps with strategic planning, decision-making, and understanding.
- Smooth integrations: Easily synchronize with current accounting software and financial systems, retrieve invoices automatically, do away with double-entry bookkeeping, and streamline financial processes.
“We will help businesses simplify their financial operations and improve their financial health by empowering them with the most powerful corporate card in Egypt, paired with our all-in-one financial platform. A finance team’s first and last platform need is Swypex. We’re eager to go on this adventure and are thrilled to work with Accel, Foundation Ventures, and Raba to realize this ambition.”
Ahmad Mokhtar
