Fawry for Banking and Payment Technology Services (”Fawry”) was founded in 2009 as Egypt’s first electronic payment network. Today it is the largest payment services company in Egypt, serving millions of consumers and businesses with an unrivaled infrastructure network of 50,000 service points in 300 cities and suburbs across the country collecting over EGP 9 billion in 2015. The network serves over 15 million customers and offers numerous billing services including mobile top-up, bill payment as well payment facilitation for other numerous services. The company also provides B2B cash management services as well as electronic cash services.
In 2015, a consortium of international financial investors comprising of the Egyptian-American Enterprise Fund (“EAEF”), Helios Investment Partners (“Helios”) as well as the MENA Long-Term Value Fund acquired a majority stake in Fawry at a purchase price valuing the company at EGP 773 million, (approximately US$ 100 million). EAEF’s investment was completed under the management of LCP.
Visit the company’s website http://fawry.com