What they do:

Kashat is designed to help users cultivate a financial identity by providing them with instant credit. The app offers short term loans that start from 100 EGP up-to 2000 EGP with a repayment plan up to 61 days.

The product is designed to serve unbanked Egyptians, which comprise almost two-thirds of the population of Egypt.

Why we invested:

Kashat an Egyptian licensed micro-financed provider which provides access to nano-loans on short term basis. The product is offered via android app and allows customers to open a credit application and set up a mobile wallet and get approval and disbursements all within 7 to 10 minutes.

The business model of the company is B2C primarily, with revenue earned via interest on loans and transaction fees on the mobile wallet. Kashat has partnered up with major corporates in telco Vodafone and Egyptian listed digital financial services / payments firm Foreys to offer the Kashat lending product to their subscribers, adding a B2B2C element to the business that can scale quickly.

The Founders:

Karim Nour is the Co-Founder and CEO of Kashat

Exited/Acquired:

Kashat is in the process of an Equity Swap agreement whereby the company’s shareholders will sell 100% of their shares in exchange for getting 15% ownership in Raseedi - a daily fintech app for the underbanked masses in Egypt that offers its user community a medium to communicate cheaper, save, pay, borrow without credit history and pay back later.