XPay is a Cairo-based fintech that develops financial solutions enabling communities — universities, schools, and social and sports clubs — to go cashless. Founded last year by Mohamed Abdelmottaleb, the startup currently has a team of seven and serves 18,000 users across five communities. The company plans to grow its headcount to 15 by year-end and aims to reach 200,000 users by the end of the year. XPay will use the new funding to hire business development, sales, marketing, and development staff and to scale across Egypt, with plans to begin expanding outside Egypt next year. It is part of the first cohort of the Startupbootcamp Fintech Cairo accelerator, which helped secure partnerships with Visa, EBE Bank and other fintech players. Financially, XPay previously raised a $35,000 pre-seed from EFG EV Fintech and has just closed a $250,000 angel round.

Total raised

$0M

Funding rounds

1

Latest round

Equity

Latest activity

May 2019