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The company will use the fund to continue scaling rapidly in its initial market, Egypt while building a range of financial services in addition to cashless payroll and prepaid cards for employees. Next-generation virtual banking platformFounded by Frans van Eersel in 2014 Prepaid card users enjoy instant and secure access to banking facilities, no matter how much they earn, claims the company in a press release. The company has extensive MENA-focused expansion plans, building on established and growing operations in the region’s largest single market, Egypt.Wouter Volckaert, Chief Investment Officer, Force Over Mass Capital, said, “Egypt has around 2.4 million individual businesses and 104 million people, some 67% of whom do not have a bank account, while 94% have no access to credit. MENA-focused expansion plansToday, Dopay has hundreds of active corporate customers in Egypt, from small local businesses to large enterprises including McDonald’s and the country’s leading bus ride-sharing brand, SWVL.
LondonFinancial Services