Egypt’s leading fintech company, Fawry, has announced strategic investments worth EGP 80 million ($1.6 million) in three local tech startups, reinforcing its commitment to expanding its “Fawry Business” ecosystem and enhancing digital business solutions.
Founded in 2008, Fawry is Egypt’s largest e-payment platform, offering electronic bill payments, mobile top-ups, and financial services. Its latest investments see the company acquiring majority equity stakes in:
- Dirac Systems – a leading provider of Enterprise Resource Planning (ERP) software.
- Virtual CFO – a specialised financial and accounting services provider.
- Code Zone – an innovative software development firm focused on advanced business management tools.
By integrating these startups, Fawry is strengthening its digital service offerings for businesses, further positioning itself as a key player in Egypt’s technology and fintech landscape.
Ashraf Sabry, CEO of Fawry, highlighted the significance of these investments, stating:
“These investments reinforce Fawry’s position as a one-stop digital business solutions provider. Expanding the ‘Fawry Business’ suite with ERP and financial management tools, seamless digital payment integrations, and tailored fintech innovations will benefit SMEs and large enterprises alike. This move also reflects our commitment to empowering Egyptian companies with cutting-edge financial solutions, driving efficiency, and supporting the nation’s digital transformation efforts.”
Mohamed Hamed, CEO of Dirac Systems, described the partnership as a milestone for his company, saying:
“This investment enables us to scale our ERP solutions and expand our impact on businesses of all sizes. Together with Fawry, we will deliver integrated digital solutions that enhance operational efficiency, streamline financial management, and support business growth in an increasingly digital economy.”
With these strategic moves, Fawry is doubling down on its vision to drive Egypt’s cashless economy and digital transformation, providing businesses with the tools they need to thrive in the modern financial landscape.
