Matouk Bassiouny advises Raseedi in Kashat acquisition
Matouk Bassiouny UAE advised fintech startup Raseedi in the acquisition of digital lending platform Kashat and its subsidiary, a nano-financial services provider called Pharos Microfinance.
Raseedi
A smart mobile app designed for dual SIM users in Egypt, Raseedi allows its clients to save on calls and data, while offering tailored plans that includes tracking usage options, and managing subscriptions.
Through this acquisition, Raseedi is set to strategically expand its services by introducing instant loan options up to EGP 3000, targeted at a demographic of small business owners and sole proprietors. The initiative aims to provide quick and flexible financing solutions, addressing the shortcomings faced by underserved businesses.
The team
Partner and head of FinTech & ECVC Mohamed Essam (pictured) led Matouk Bassiouny’s team on the transaction, supported by associate Moustafa Rizk.