Egypt Welcomes its First Money App: Telda ...Egypt

Telda’s Team (Source: MENAbytes) A new app aims to revolutionize banking for many Egyptians, providing an online-only experience. The banking startup, named Telda, officially launched in April 2021 after securing a USD 5 million pre-seed, the biggest of its kind in the region. The capital was largely funded by the American firm Sequoia Capital, in its first venture into the Middle East and North Africa market, but is no means the firm’s first investment in tech; it has previously backed household names like Apple, Google, Oracle, YouTube, Instagram and WhatsApp. Telda is the brainchild of Swvl’s co-founder and former CTO, Ahmed Sabbah and an ex-senior engineer at Uber, Youssef Sholqamy. The

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