Egyptian fintech startup KlickIt has closed its first round of investment in an investment round led by EFG Finance and Camel Ventures – the venture capital arm of DFIN Holding. The funds will be used to develop the value-added services available on the KlickIt platform.
KlickIt is an Egyptian-based digital collection platform whose operations involve payment management driven by the ethic of plug-and-play. It was founded in 2017 by Saeed Talaat, Hashim Ibrahim, Youssef Galal, and Walid Abou Elnour.
The platform operates integrated systems that digitize and enhance end-to-end payment processes through which clients are provided with revolutionized digital payments services. Their clients range from private to public educational entities in Egypt and across the globe.
KlickIt’s co-founder and chief executive officer (CEO), Saeed Talaat, expressed gratitude to their investors.
“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,” he said.
CEO at EFG Finance, Walid Hassouna said he was proud to be part of the investors in KlickIt and backing his 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,” he stated.
The concluded first-round financing will be used to expand and improve the KlickIt tech stack. And as well as to develop and bring together value-added services for the company’s broad network of schools, institutions, and rapidly rising client base.
During his speech, Saeed revealed the company’s plans for the investment round, “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.”
Currently, KlickIt has successfully processed EGP500 million (US$31.8 million) and is reputed to be the choice partner for over 55,000 educational entities, including notable institutes, schools, and nurseries.