Egyptian fintech startup, Flash, has successfully concluded a seed funding round, securing $6 million to accelerate its product development and drive customer and business acquisition. The round was led by Addition, a US-based investment firm, with participation from Flourish Ventures and other angel investors.
Flash, a mobile application available on iOS and Android, offers a secure and contactless digital payment solution for businesses through the use of QR codes. The Central Bank of Egypt has granted approval to Flash, allowing merchants to utilize the platform to manage customers, receive payments, and conduct transactions.
With the funding secured, Flash is poised to accelerate the expansion of its product offerings and attract more customers in Egypt. The company has also received approval to operate as a technical payment aggregator in partnership with Banque Misr.
Founded in 2021 by former Uber executives Erik Gordon and Sherine Kabesh, Flash aims to simplify and enhance the payment experience for both consumers and businesses, making transactions faster, safer, and more convenient.
CEO of Flash, Erik Gordon, expressed his excitement about the investment, stating that it would empower the company to advance Egypt’s economy while providing valuable insights from experienced investment partners.
Andrew Miskiewicz of Addition praised Flash’s transformative impact on Egypt’s payments landscape, simplifying complex transactions for businesses and consumers alike. Ameya Upadhyay, Venture Partner at Flourish Ventures, highlighted the fintech’s vision to foster financial inclusion in Egypt and backed Flash’s mission to empower the market with digital payments.
Co-founder Sherine Kabesh emphasized the importance of the technical payment aggregator approval from the Central Bank of Egypt and Banque Misr, signaling Flash’s commitment to expanding the cashless ecosystem and introducing innovative products for micro-entrepreneurs, driving growth in Egypt’s digital economy.