Egypt-Based Payment Platform Settle Raises $2M in Pre-Seed Funding
Summary
Founded in 2023, Settle Payments aims to help businesses digitize and simplify their B2B payments.Egyptian B2B payment platform Settle Payments has secured $2 million in a pre-seed funding round led by Abu Dhabi-based Shorooq Partners. Other investors include Egypts El Sewedy Capital Holding, Acasia Ventures, and Abu Dhabis Plus VC.Founded in 2023, Settle Payments is a fintech startup focused on helping businesses digitize and simplify B2B payments. The platform integrates enterprise resource planning software with existing bank accounts to automate payments and receivables, enhance financial transparency, boost efficiency and reduce operational errors.The latest funding will be directed towards enhancing the platforms services, improving user experience, hiring top local talent, consolidating its client base in Egypt, and expanding into new regional markets, particularly the GCC, with the goal of becoming a regional leader in B2B payment automation.