Already EFG EV is proud to have provided valuable assistance to several Egyptian innovative fintech startups, and we look forward to supporting the success of many others.
Hood provides a device for users’ cars that is synced with Hood’s mobile application. The app informs the user when an error is detected and whether it is minor or requires immediate attention.
Users can also check and clear the code of the engine light, track their trip history, locate the nearest car shop, keep their gas expenses in check, monetize the car’s movement and have a big cloud of data of every mile driven.
Hood provides insurance companies and executives regular customized reports of their clients’ most recurrent car breakdowns, allowing them to determine their best insurance policy. The app’s smart dashboard displays new offers, specials discounts and loyalty programs to customers.
Various business and organizations now are requesting their customers/users to verify their accounts or at services requests to submit their official Arabic Documents. This process is currently operated manually, consuming a lot of time and resulting in high operational cost and hindering organization’s ability to increase their sales or on-board new clients due to long process of members verification. Verified is a software solution that instantly checks and extract data from Arabic Official documents Using Machine vision and OCR technology, targeting online marketplaces that connects user to user, Government e-services and Banking and Insurance industries.
Noqood is a fintech startup working to increase financial inclusion and promote financial literacy across Egypt. The company provides a free financial platform that aggregates financial information from various banks, insurance companies and brokerage firms available in both Arabic and English. The platform provides users with the knowledge needed to compare products and services and make more informed, efficient decisions about their money. Additionally, Naqood’s platform offers channels through which users can reach out to various financial institutions directly.
X-Pay is a revolutionary electronic payment solution that allows closed communities – such as residential compounds, schools and clubs – to digitize payments and payment collection. Additionally, X-Pay provides it users with a variety of value-added services that make it easier to manage payments and settle recurring bills. Through the company’s mobile application, users can create a “family wallet” and transfer money within a network to facilitate easy spending control. Through another channel on the application, users can communicate with other members and access financial management solutions that help groups who struggle to control expenses optimize their daily operations.
Paynas is using technology to integrate SMEs into Egypt’s financial system. The company has built a cloud-based HR and payroll management platform that allows Egypt’s small businesses to provide their employees with benefits. By providing HR features such as employee and payroll management, Paynas is helping SMEs optimize their workforces. Paynas also serves as an intermediary between SMEs and the banks that often consider them to be “high risk” clients. The fintech company provides SMEs with access to bank accounts.