Matouk Bassiouny UAE | View firm profile
We are pleased to announce that Matouk Bassiouny UAE (“MB UAE”) acted as legal counsel to Raseedi in connection with acquiring Kashat, along with its subsidiary, Pharos Microfinance, a nano-financial services provider.
Raseedi is a smart mobile app for dual SIM users in Egypt that helps optimize mobile consumption by providing personalized offers, tracking usage, and managing subscriptions, allowing users to save on calls and data.
This strategic acquisition will enable Raseedi to expand its product offerings by introducing instant loan services to its portfolio, empowering small and sole-proprietor business owners to access quick, flexible financing with the ability to apply for instant cash loans of up to EGP 3,000, disbursed within five minutes, and with a short repayment cycle of 1 to 3 months, all designed to help support the financial needs of underserved businesses.
The MB UAE team advising on the transaction was led by Mohamed Essam (Partner and Head of FinTech & ECVC) and included Moustafa Rizk (Associate) and Mahmoud Ezzat (Associate).
For more about Matouk Bassiouny, check out our website at https://matoukbassiouny.com/.