Telda is a consumer money and payments app built to digitize everyday finance for Egyptians and the broader MENAP region. The company launched its app and a Mastercard-powered card to the public after securing Central Bank of Egypt approval, and began operations last month. It has onboarded 25,000 cards and reports a waiting list of 110,000 customers who ordered cards. Telda aims to change how people send, spend and save money, emphasizing an intuitive user experience and the social element of payments. The team said the new funding will support product development and market growth across Egypt, where cash remains dominant and card usage is nascent. Founders include Ahmed Sabbah (ex‑Swvl) and co-founder Youssef Sholqamy. Telda is a newly launched digital bank that enables customers to create free accounts to send and receive money and to get a card for online and in-store payments, withdrawals, and bill pay. The company was launched last month by CEO Ahmed Sabbah and CTO Youssef Sholqamy. Telda is the first company to receive a Central Bank of Egypt license under new regulations to issue cards and onboard customers digitally, though cards have not yet been distributed. The startup has more than 30,000 signups, about half of whom have requested cards, and it plans to fast‑track card production and distribution with new funding. Telda aims to scale hiring and expansion—leveraging founders' experience at Swvl and Uber—to reach close to a million cards in its first year. The company raised a $5 million pre‑seed round to support these plans.

Total raised

$25M

Funding rounds

2

Latest round

Seed

Latest activity

Oct 2022