Telda, an Egyptian finance firm, received $20 million in SEED Round

Telda, a Fintech firm in Egypt, has secured $20 million in their SEED round headed by Global Founders Capital along with Block, Inc, and Sequoia. Established in the year 2021, the firm secured $5M last year in a Pre-SEED round.

This money will enable Telda to fulfill its mission of assisting Egyptians in automating their savings and expenditures.

In 2021, Uber veteran Youssef Sholqamy and Swvl co-founder Ahmed Sabbah co-founded Telda. The firm provides customers with an easy method to transfer, invest, and save money.

Customers may give and request money through text or email and obtain payment alerts instantly. It includes a debit card that can be utilized online, in-store, and at ATMs.

There is also a tool for tracking expenditure and classifying it into sections so it can be readily monitored.

Global Founders partner Roel Janssen said of the investment, "We are tremendously thrilled to extend our cooperation with Telda further."

"The business has produced a product that outperforms many global consumer payments businesses, and Ahmed and Youssef have recruited some of Egypt's best talent in development, technology, and GTM." We are optimistic that Telda will strive to astound Egyptian consumers with fantastic product experiences and service in the future years."