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ArabFinance: Contact Financial Holding (CNFN) has signed a financing program agreement, through its subsidiary Contact Factoring, with Capiter, an Egypt-based B2B marketplace, according to an emailed press release on March 8th.
As per the signed agreement, Contact Financial will assist Capiter to expand across the governorates of Egypt and will support the startup’s clients of small- and medium-sized enterprises (SMEs) through designing an integrated series of services.
Under the financing program, Capiter will secure EGP 100 million in seed funding from Contact Financial.
This step comes as part of Contact Financial’s expansion strategy in the fintech sector to offer integrated solutions and provide support to startups.
Contact Financial Holding, formerly Sarwa Capital, is a non-bank financial services provider, changing the way people and businesses access finance and insurance.
Established in July 2020, Capiter has presence in three countries, namely Egypt, the UAE, and India, with its head office located in Cairo.
