Egypt’s Nexta to launch ‘next-gen banking’ app with fresh $3M

Nexta, an Egyptian startup that plans to launch its banking app in the coming months, has secured a $3 million investment from eFinance Group, a state-owned provider of digital payments solutions. This news follows the $2 million pre-seed round Nexta announced this March, which Egyptian early-stage VC Disruptech led.

Last year, Nexta obtained a provisional license from the Central Bank of Egypt (CBE) and will look to fulfill further requirements and meet certain obligations before obtaining the CBE’s final approval for the agent banking license it needs to launch its services in the country.

Read more: TechCrunch