Cairo-based Fintech Startup, Hollydesk has recently secured $325k pre-seed Funding. The investment funding round was led by Faisal Abdel Salam and other angel investors.
Founded in June 2021, Hollydesk was created to provide technology solutions to small and medium-scale businesses, helping them monitor and control their company’s daily expenses anywhere in real-time.
Through the Hollydesk application, Employees can request all petty cash and custody because it connects all members of the company within the system.
Members within the system can effectively communicate through the application. Through simple clicks on the application, the financial team can instantly approve settlement operations.
Through the application, employees can easily register suppliers, get approval, attach invoices, and pay suppliers, they can get their money through digital wallet, any bank, and pos machines for electronic payment companies such as Fawry, within the application.
CEO of Hollydesk, Mahmoud Moussa expressed his joy at the company’s new investment, saying that it allow for growth and horizontal expansion of its services, he said:
“We are looking to use the new funding to design technologies for our solutions, implement other services that will soon be announced with other Egyptian banks, assign new competencies within the team to achieve financial inclusion, specifically for workers within small and medium companies.”
The CEO, Moussa said that there’s a great opportunity in the area of digitizing the part of following up on companies’ expenses.
He stated that that there are also plans of providing other solutions like financing and solutions to help see these companies achieve greater growth for this sector.
With this funding, Hollydesk has become the first financial technology company in Egypt in the field of managing SMEs expenses and accounts to get funded.
Lead investor, Faisal Abdul Salam, said: “The company is providing digital solutions that bridges the gap that many small and medium-sized companies in the Middle East and North Africa suffer from”
One of the most important reasons startups succeed is the degree of harmony and integration of the team, and this is what we see in the Hollydesk team.
There’s strength in their belief especially in the idea of their project, and we were encouraged to invest and support them, he added.
Over the course of the last period, Hollydesk has expanded its solutions to include over 3000 clients from companies in different sectors.
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