{"id":323407,"date":"2021-09-20T18:03:48","date_gmt":"2021-09-20T18:03:48","guid":{"rendered":"https:\/\/egy-africa.com\/en\/?p=323407"},"modified":"2021-09-20T18:03:48","modified_gmt":"2021-09-20T18:03:48","slug":"fawry-acquires-minority-stake-in-brimore-for-egp-15-7m","status":"publish","type":"post","link":"https:\/\/egy-africa.com\/en\/2021\/09\/20\/fawry-acquires-minority-stake-in-brimore-for-egp-15-7m\/","title":{"rendered":"Fawry acquires minority stake in Brimore for EGP 15.7m"},"content":{"rendered":"<p>Fawry for Banking Technology and Electronic Payments has acquired a minority stake in Brimore as\u00a0part of the social commerce platform&#8217;s upcoming Series A funding round.<\/p>\n<div id=\"Outstream\"><\/div>\n<p>The investment value amounts to\u00a0EGP 15.7 million, Fawry said in a bourse disclosure on Monday.<\/p>\n<p>&#8220;<em>The investment marks further progress on Fawry\u2019s efforts to establish strategic partnerships with high-potential tech companies<\/em>&#8221;\u00a0with the aim of\u00a0&#8220;<em>developing Egypt\u2019s growing digital ecosystem<\/em>,&#8221; the e-payment firm pointed out.<\/p>\n<p><strong>Brimore&#8217;s Co-Founder and CEO Mohamed Abdulaziz<\/strong>, said, that the\u00a0&#8220;<em>platform has enabled tens of thousands of individuals across Egypt to start and grow profitable businesses with zero initial investment. We allow ordinary people, most of whom are women, to reach millions of customers across the country<\/em>.&#8221;<\/p>\n<p>Commenting on the deal, <strong>Fawry&#8217;s CEO\u00a0Ashraf Sabry<\/strong> said: \u201c<em>We look forward with great anticipation to our journey with Brimore&#8230;Our more than 230,000 strong merchant network is just one of the areas where lasting value will be created through this partnership. Moving forward, we aim to offer Fawry\u2019s full suite of financial solutions to our partners at Brimore, their network of distributors, and their customer <\/em>base.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"<p>\u00a0Fawry for Banking Technology and Electronic Payments has acquired a minority stake in Brimore as\u00a0part of the social commerce platform&#8217;s upcoming Series A funding round.\u00a0<\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[156],"class_list":["post-323407","post","type-post","status-publish","format-standard","hentry","category-news","tag-fawry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.3 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Fawry acquires minority stake in Brimore for EGP 15.7m - egy-africa<\/title>\n<meta name=\"description\" content=\"\u00a0Fawry for Banking Technology and Electronic Payments has acquired a minority stake in Brimore as\u00a0part of the social commerce platform&#039;s upcoming Series A funding round.\u00a0\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/egy-africa.com\/en\/2021\/09\/20\/fawry-acquires-minority-stake-in-brimore-for-egp-15-7m\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Fawry acquires minority stake in Brimore for EGP 15.7m - 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