Fawry Invests $1.6 Million in Three Egyptian Fintech Firms
The move aligns with Fawry’s strategy to expand its business solutions ecosystem, Fawry Business.
Fawry has invested $1.6 million (EGP 80 million) in three Egyptian fintech companies - Dirac Systems, Virtual CFO and Code Zone - acquiring equity stakes of 51.0% in Dirac Systems, 56.6% in Virtual CFO, and 51.0% in Code Zone.
Established in 2008, Fawry is Egypt’s largest e-payment platform, offering electronic bill payments, mobile top-ups, and various financial services. The latest acquisitions aim to enhance digital transformation, support Egypt’s cashless economy, and drive technological innovation across industries.
Dirac Systems specialises in Enterprise Resource Planning (ERP) software and business automation, helping businesses streamline operations. Virtual CFO provides financial and accounting services for SMEs and startups, focusing on cash flow, compliance, and financial management. Code Zone, meanwhile, develops business management tools, including CRM, HR, and financial management solutions, with a particular focus on the healthcare sector.
These investments align with Fawry’s strategy to expand its business solutions ecosystem, Fawry Business, by integrating advanced financial and enterprise management tools into its portfolio.
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