Banking and Payment

Telda: First Mobile-Only Bank In Egypt

Telda Teams

Telda is the first money app in Egypt. The fintech startups promotes innovative digital payments by offering online financial services through it mobile app.

The online only experience bank, Telda, was officially launched in April, 2021after securing an amount of $5 million pre-seed which was raised on May 17, 2021, the largest of its kind in Middle East and North Africa (MENA) market.

Before, it was reported that The Egyptian ecommerce fulfillment start-up Flextock has raised the largest pre-seed in MENA. 

But today, Telda’ fundraise has surpassed that of Flextock record with a considerable margin of $3.5 million in both MENA and Africa market.

The fund was largely funded by the American firm Sequoia capital.

CEO Ahmad Sabbah and CTO Youssef Sholqamy were the founder of Talda.

Formally, Sabbah was the co-founder and CTO of Egypt’s ride-hailing company SWVL, and Sholqamy was a Senior engineer in uber’s infrastructure team.

Telda is a financial brand built for Millennials and GenZ to deliver a more efficient banking experience. We are bringing a better way to manage money in an alternative to the traditional payment system. Telda is changing the way people feel about and make payments – it simply is the first money app in Egypt

Said by Ahmad Sabbah, cofounder and CEO of Telda.

In Cairo, Egypt. On 25th of May, 2021, MasterCard announced a partnership with Telda. The partnership is to bring a seamless and easy digital transformation of banking in the country. And also bring Egypt closer to her version of becoming a digital economy.

The country manager of MasterCard in Egypt, Mohammed Assem, said,

We are delighted to join forces with Telda to introduce the first money app in Egypt. This milestone further promotes the digital transformation of the Egyptian economy and allows us to offer consumers a secure, convenient and seamless experience for their payment transactions from the comfort of their own homes

We at Mastercard recognize our role and responsibility in supporting the Egyptian Government’s efforts towards an all-inclusive digital economy, and we are delighted to further advance this agenda through our partnership

MasterCard will also offer Telda to issue prepaid card to its users and facilitate payment via MasterCard’s payment processing services.

Like any other digital bank and neo bank globally, Telda offer its customers to be able to create a free account to send and receive money. And also provide a prepared MasterCard to use online for check out in any online store, make withdrawal and paybills.

The Telda App provide many features and benefits for customers including send ing and receiving money. You’ll be able to manage your transaction history, card statement, and other banking activities on the app.

Telda app provide user experience to its customers with money management features that allows you to stay on top of your finance.

Telda affirmed that it is the first neo bank to receive license from Central Bank of Egypt, (CBE), under its regulations to issue card an onboard customers digitally.

This make the fintech company to be more legit and secure to keep your money.

Telda’ review, a digital only bank or a neo bank in Egypt that provide banking and financial services through it money management features branded in its mobile app.

Sending and receiving money seamlessly is one of its biggest priority to Egyptians.

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Best regard,

Temmy Samuel.

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