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Telda raises $5 million pre-Seed round led by Sequoia Capital


Telda raises $5 million pre-Seed round led by Sequoia Capital
Egypt-based fintech startup Telda, has raised a $5 million pre-Seed round, led by Sequoia Capital, with participation from Global Founders Capital and Class 5 Global. The round marks Sequoia s first-ever foray in Mena.
Founded last month by Ahmed Sabbah, Swvl s co-founder and former CTO, and Youssef Sholqamy, ex-senior engineer in Uber s infrastructure team, Telda offers digital banking services that cater to the financial needs of Millennials and Gen Z.
Through the app, users can set up an account with their phone number and national IDs. Telda s account comes with a Mastercard-powered card that can be requested from the app and used for online payments, in-store purchases, and cash withdrawals. Users can receive money on Telda from anyone in Egypt and beyond using the international bank account number (IBAN) that they receive for their digital account. ....

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