Cairo-based Fintech startup providing credit card management service CreditFins has announced it raised an undisclosed sum in a Pre-Seed funding round co-led by Flat6Labs, AUC Angels, TA Telecom Holding, and other strategic angel investors with technical and investment backgrounds.
CreditFins was founded in 2020 by Sherif Radi, Gamal Eldin Sadek, and Norhan El Sakkout. Intending to give its consumers financial freedom, the startup manages credit cards to allow customers to track and settle credit card debt in reduced monthly installments, saving up to 20–50 percent in interest.
Co-founder and CEO, Sherif Radi speaking said:
“Credit card debt is a moving target that’s hard to settle. At CreditFins, we work with our customers to settle the debt they have in a faster and cheaper way, along with providing them with financial information and empowering them with the right tools to be financially liberated”.
Mariam Kamal, Manager of AUC Angels, also added that the investors identified CreditFins’ experience and approach.
“CreditFins stood out amongst their cohort because of clear strength in the team. The diversity in their experience, and their resourceful approach to addressing the problem they have identified, was apparent to investors. We look forward to witnessing the growth and pivots they will go through in their mission to empower their user base through enhanced financial tools” Mariam said.
“Credit Fins has developed a cutting-edge financial technology solution to alleviate bank customers’ financial struggles, kicking off in Egypt and expanding to new markets. Add to that their solid founding team who continue to grow their business, is a sure recipe for success. Flat6labs is proud to be part of their success journey,” Albert Malaty, Managing Director of Flat6Labs Cairo Seed Programme said.
CreditFins is also planning to launch its “CreditFins Alpha” card, which will add more functionality to its credit card management platform.