Fintech Startup Nexta Is Set To Launch After Raising $2.2M In Pre-Seed Round

March 10, 2022 | 2 minutes read

Egypt-based Fintech Startup and Lifestyle Banking pioneer Nexta is ready to launch with its $2.2M in pre-seed funding.

To disrupt the digital banking experience and consolidate transactions the Fintech startup Nexta gathered funding of  $2.2M. The funding round was led by Disrupt tech including some prominent international backers. 

Nexta offers its users a new immersive experience of banking right from their phones. And aims at simplifying money management for everyone by making money tasks simple, fast, and affordable with an ever-evolving suite of tools. The app empowers its users to also send and receive money. Other than this, it provides full insights to the users on their spending and income so that they are in control of their finances. 

The startup also provides real-time support by using live assistant tools, online chats, chatbots, and community groups. This is also one of the main reasons that startup has garnered the attention of users. It is not just Nexta receiving this huge amount of funding but overall the fintech industry has become gigantic. As the recent Global Fintech market report pointed out that industry will reach a value of $305 billion by 2025. Especially due to the  Fintech apps and web development which give options of smart saving, save investment, and secure money transactions, etc. And in recent years many Fintech startups like Monite, Sanad Cash, and mmob have popped up which give innovative solutions to financial problems.

Founded in 2021 by Ibrahim Farag and Ahmed Hisham, Nexta is expected to expand quickly in the Egyptian market. And create a unique experience for the Egyptian population which they call “ next-generation banking”.Ibrahim Farag, Nexta’s CEO,  on securing visa partnership and progress of startup said

 “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.” 

Nexta has also locked a solid partnership with Visa and various banks in Africa and Egypt. The purpose of the partnership is to facilitate its customers with a Nexta super card in which the users will just have to carry one Nexta  Super card instead of carrying multiple cards.