Egyptian startup Qardy is a debt financing marketplace and aggregator aiming to enhance financial inclusivity in Egypt. Through its partnership with the Egyptian Post Office, Qardy plans to expedite the lending process for MSMEs (Micro, Small, and Medium-sized Enterprises) and reduce the waiting time from nine months to around 18 days. The current manual lending process, which heavily relies on personal connections, creates significant hurdles for MSMEs.
Qardy acts as an intermediary between customers and financial institutions, addressing the high customer acquisition cost for banks and the limited access to MSMEs. The startup's partnership with Egypt Post, which operates over 4,300 post offices across the country, will enable it to extend its services to both rural and urban areas.
Being the only lending marketplace of its kind in Egypt, Qardy has attracted interest from various financial institutions, eager to partner with the startup to fulfill the market demand. It has already secured funding from investors like 500 Global, Sanabil Investments, and a group of angel investors. The company has plans for further expansion across the MENA (Middle East and North Africa) region in the near future.
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