Waleed Sadek: The position we have reached and what has been achieved so far proves our leadership in the field of financial technology and electronic payment solutions in 10 countries.
PaySky, a company specializing in financial technology and electronic payment solutions, announced that it topped the Forbes list of the 50 most funded startups in the Middle East and North Africa for the year 2022 and came in fifth place out of the 8 most funded startups on the list in the financial technology category, where the company came In the 33rd place with financing of $ 34 million, according to a report published by the economic magazine “Forbes Middle East”, and the report highlighted the success of emerging companies in light of the global economic recession, in the Middle East and North Africa region in attracting large funds in 2022, as it raised more 50 Startups funded $3.2 billion, compared to $3 billion in 2021.
This success comes in light of the fierce competition witnessed by the Egyptian market as the fastest growing market in the Middle East in the field of electronic payment in light of the Egyptian state’s vision of digital transformation. PaySky has rushed to develop its digital services and electronic payments as it offers a wide range of payment solutions to financial institutions And merchants, companies and individuals all over the world, with a vision to popularize the electronic payment system and implement digital transformation and include first-class payment solutions for banks and financial technology companies to benefit from them in their own innovations and distinguished uses. With the global company Visa and the Egyptian Post, which achieved access to more than one million users in a record period of time to provide a variety of different payment services with the click of a button, and this contributed to the completion of more than 2 million transactions through the application, with a value exceeding two billion Egyptian pounds.
Dr. Waleed Sadek, Founder and CEO of PaySky, said: “We are pleased with the position we have reached and what has been achieved so far as one of the leading companies in the field of financial technology and electronic payment solutions in 10 countries across the Middle East, Africa and Asia, and we are working hard to expand significantly. Greater in our services and making them cover many countries and making a radical change in the field of digital payments, not only in the Middle East, but in the entire world, by providing a variety of payment services, including; Financial services, bill payment, and electronic shopping, as well as services for institutions and merchants, including enabling them to collect payments, selling products electronically, and providing tools to pay the salaries of their employees using our cards, as well as paying suppliers through our platform.”
He added that the company continues to pump new investments to develop the field of financial technology, as BaySky seeks to reach all possible ages and groups, and to provide equal opportunities to provide payment solutions, and in this context, the company’s investments amounted to 100 million pounds during the current year.
It is worth noting that PaySky participated in the opening of the Forbes 30 Under 30 Summit, which was held for the first time in the Middle East, through a discussion session under the name “Super Applications and Can the Middle East and North Africa Region Master the Super Applications Model”, as it is one of the most innovative models in the sector Emerging companies specialized in financial technology applications, which contribute to enhancing their presence, effective participation, and showcasing their latest products and services in the region.