A consortium of three international investors acquired 85 percent of Fawry, Egypt‘s largest e-payment network.
The profit-making company, which generated EGP 210 million in 2014 was acquired for USD 100M by the Egyptian-American Enterprise Fund (EAEF), Helios Investment Partners and the MENA Long-Term Value Fund (MENA LTV).
Providing payment services to more than 15 million customers across Egypt, Fawry has more than 50,000 service points making 1.2 million transactions on a daily basis.
The company was established in 2008 after garnering the support of major investors like Raya Holding, Technology Development Fund (Ideavelopers), Arab African International Bank, HSBC, Alexbank and recently joined International Finance Cooperation (IFC).
Payment collection, flight tickets, mobile phone recharge and e-payment are among the many services offered by Fawry.com