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Egypt's fintech KlickIt raises first round of funding

Wamda

Source: Afrikan Heores

KlickIt, a FinTech and digital fees management platform based in Cairo, has raised its first round of funding with the help of EFG Finance and Camel Ventures, the venture capital arm of dfin Holding.

“We’re very proud to be backed by substantial entities like EFG Finance and dfin’s Camel Ventures, and we thank our investors for their continued support and trust in us,” said Saeed Talaat, Co-founder and CEO of KlickIt. “With this investment round, we look forward to solidifying our tech stack and scaling our services. Our partnerships over the last year with GEMS, Banque Misr, and most recently the Egyptian Ministry of Education, have been essential to our growth, and we plan on leveraging these experiences to spearhead the next chapter in our journey.”

Saeed Talaat, Co-founder and CEO of KlickIt: "KlickIt is an Egyptian payment management and digital collection platform that was founded in 2017 under the name Q-Less and is based on the plug-and-play philosophy. With its integrated solutions that digitize and streamline end-to-end payment processes, KlickIt serves as a digital payments transformation partner to public and private educational entities in Egypt and throughout the world, including education ministries."

Under the Ministry of Education, KlickIt presently serves over 55,000 Egyptian public schools, with over 25 million pupils. This is on top of a portfolio of 230 educational enterprises of various sizes held by a private entity.

Since its debut in 2017, KlickIt has processed more than EGP 500 million in various types of payment transactions for educational entities, and is backed by collaborations with key market leaders such as Banque Misr and e-finance, with more in the pipeline. Adding my two cents to this market-validating investment EFG Finance’s CEO, Walid Hassouna, emphasized

“We’re proud to be investing in KlickIt and backing its team. They have been proving their determination, grit, and ability to overcome challenges and to crack a highly lucrative market. We believe the future of availing financing through valU on Klickit will provide superb and accessible services to their customer base and help catalyze the growth of the company,” Walid Hassouna, CEO at EFG Finance said. 

The Egypt-based FinTech will use the cash to expand and improve its technology stack, as well as develop and implement value-added features to cross-sell additional services to the company’s wide network of schools and institutions and quickly rising customer base.

November 30th 2021, 10:18 am
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