Press Release.
Nexta, an Egypt-based FinTech and next-generation banking platform, is scheduled to debut with $2.2 million in capital after successfully meeting all CBE rules and standards. Disruptech led the Pre-SEED round, which included participation from significant international backers.
Nexta aims to revolutionize the definition of user experience for all digital natives. They introduced “next-generation banking,” and offer Egyptians a better everyday life by delivering “lifestyle banking.” This is accompanied with an unrivaled digital experience. A Nexta card will combine a user’s existing payment cards, allowing for quick and secure money transfers, as well as a slew of additional benefits.
With a seasoned team and a visionary board of directors, Nexta is predicted to climb swiftly in the Egyptian Fintech industry and offer a unique experience for the Egyptian population, a “next-generation banking” experience. Nexta was founded in 2021 by Ibrahim Farag and Ahmed Hisham, whom stated: “We are proud to secure the trust of the CBE and Visa, and this is only the beginning. This is shaping up to be a highly competitive market.
We await the formal announcement of the EKYC and Digital Banking Guidelines to be one of the early applicants. This is a vast market, and we are leading the wave.”
The Fintech startup strives to be at the forefront of a competitive and healthy market. Nexta’s Managing Director, Ahmed Hisham, said: “We at Nexta believe that our competitive edge is further highlighted through the mere fact that we have created a strong team, empowered through its diversity in expertise, backgrounds, and exposure.
Nexta pledges to provide a new and wholesome banking experience for numerous market segments and contribute as a significant player to the creation of the Egyptian era of digitization. Our partnership with Visa allows for exchanging expertise and penetrating an upcoming market.”
Malak ElBaba, Egypt Country Manager at Visa, added: “We are delighted with such partnership as it aligns with our strategy to backing Fintech as the enablers for financial inclusion. Nexta needed a partner that was committed to supporting their breakthrough into the market and delivering something truly distinctive. That’s where Visa is able to support with its global network capabilities and cross-market expertise.”
Nexta will be able to use the funds it has received to launch its much-anticipated digital banking solutions, as well as to support its efforts to expand its market and maintain strategic partnerships. Mohamed Okasha, Disruptech’s Managing Partner, remarked.
“We believe that Egypt is witnessing a complete phase of digital transformation, thanks to the unprecedented support from the CBE. We are confident that Nexta’s strong team is well-positioned to pave the way in innovation with its disruptive offerings.”