Qardy & AlKheir Partner to Support Startups in Upper Egypt & the Delta

Qardy and AlKheir Microfinance have partnered to provide financial support to micro businesses and startups in Upper Egypt and the northern Nile Delta. The collaboration aims to bridge financial gaps, improve cash flow, and enhance access to working capital for businesses in these underserved regions.

“We are thrilled about this strategic collaboration with AlKheir,” Tamer Manasterly, COO & Co-Founder of Qardy, says. “Together we aim to expand our coverage to upper Egypt and delta, providing micro businesses within these locations with tailored financial products to both manage their cash flow cycles and cover their working capital needs.”

Qardy, an online lending marketplace founded in 2022, focuses on providing financing solutions for micro, small, and medium-sized enterprises (MSMEs) and startups. Their offerings include short-term working capital loans, supply chain financing, and asset-based financing. The platform’s goal is to bridge the financing gap in Egypt’s MSME and startup sector, helping businesses manage their cash flow cycles.

AlKheir Microfinance, licensed by Egypt’s Financial Regulatory Authority in 2022, focuses on promoting economic development through microloans, with the goal of fostering job creation and growth in local economies. The company plans to expand its network to 30 branches by the end of 2024.