Egyptian fintech startup Telda raised $20 million in a seed funding round led by Global Founders Capital with participation from Silicon Valley’s Sequoia Capital and former Twitter CEO Jack Dorsey’s Block Inc.
The company launched its debit card and app in Egypt to facilitate transfers and money management for users.
Telda plans to utilize its funding to expand into new markets as well as grow its product offering, according to Bloomberg.
The company was founded by Ahmed Sabbah, co-founder and ex-CTO at SWVL, alongside Yousef Sholqamy, former engineer at Uber Technologies
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