Title : Fawry Success
link : Fawry Success
Fawry Success
Fawry Success
History:
Fawry began as an concept in 2007, while generation expert Ashraf Sabry came up with the vision of introducing digital bill fee in Egypt, to beat the urgent want for comfort and easy payments in a rustic in which traffic congestion and complex tactics are each day demanding situations that face customers.
In 2008, Fawry become set up after garnering the aid of major buyers like Raya Holding, Technology Development Fund (Ideavelopers), Arab African International Bank, HSBC, Alexbank and currently joined International Finance Cooperation (IFC). Fawry’s management team united financial and information & communications era (ICT) executives with large enjoy and many years of senior management at pinnacle local groups and Fortune 500 corporations.
Building the Technology
The principal goals of this era is to permit customers to make their bills thru a couple of channels, and enable billers and economic establishments to apply business and fee remittance info in a unmarried transaction.
Achievements:
In 2016, Fawry turned into the chosen dependable provider hub for over 20 Million clients in Egypt consisting of payers, agencies and main economic establishments.
Fawry offers more than two hundred offerings and has multiple and 1/2 million operations day by day processed on Fawry’s community: payments, collections, reconciliations, settlements, new contracts and subscriptions.
Though it presented a novelty service type for Egypt, rapid market penetration and steady high-quality of provider helped Fawry’s transaction extent bounce to a splendid 16 Billion-EGP record in less than 8 years from its launch. From monthly and periodic payments, to single transactions, Fawry network covers nearly each type of consumer payment.
Fawry’s community increase reaches greater than 65,000 locations in 300 towns, and masking every city vicinity through its channel community such as ATMs, online, Mobile Wallets, retail stores, submit workplaces or even little vendor kiosks, supermarkets and pharmacies.
Mashable, one of the world’s biggest era web sites identified Fawry as one of the pinnacle important African Startups to look at. Fawry is ranked inside the thirteenth region among African pinnacle companies.
'Finance Monthly' has provided Ashraf Sabry 'Fawry’s CEO' a CEO award for 2013
Fawry Services
Fawry, Egypt’s first and biggest Electronic Payment Network serves consumers and businesses through diverse channels and hundreds of carrier factors throughout Egypt. The offerings to be had for bills include the following classes: telecom payments, utilities, training, charity, insurance, financial and banks, on-line bills, tickets and tourism, subscriptions, and vehicle licenses renewal.
Partnership
In 2016, Fawry has partnered with PinPay, a Lebanese cell payment carrier and agreed to offer all Fawry services to PinPay’s customers. Fawry’s telecom sector became the primary provider offered via PinPay’s mobile software, outlets, internet site and other companions with whom they have direct contact with.
Acquisition
- In 2015, A consortium of worldwide financial traders comprising the Egyptian-American Enterprise Fund ('EAEF'), Helios Investment Partners ('Helios', appearing on behalf of budget it advises) and the MENA Long-Term Value Fund ('MENA LTV') (together, the 'Consortium') introduced it had received a majority stake in Fawry, the electronic bill presentment and fee platform in Egypt at a buy fee valuing the employer at EGP 773 million, about US$ 100 million.
- In 2015, IFC, associate of the World Bank acquired 18% of the stocks of Fawry to growth the capital of Fawry and greater company expansions. This deal became the primary investment for the International Finance Corporation (IFC) of the World Bank in Egypt in that year. The shares distribution of Fawry went among several Egyptian and overseas banks, along with Alexandria The Sao Paolo and the Arab African International Bank, similarly to Raya Holding Company and Capital Trust and the Government Technology Development Fund.
History:
Fawry began as an concept in 2007, while generation expert Ashraf Sabry came up with the vision of introducing digital bill fee in Egypt, to beat the urgent want for comfort and easy payments in a rustic in which traffic congestion and complex tactics are each day demanding situations that face customers.
In 2008, Fawry become set up after garnering the aid of major buyers like Raya Holding, Technology Development Fund (Ideavelopers), Arab African International Bank, HSBC, Alexbank and currently joined International Finance Cooperation (IFC). Fawry’s management team united financial and information & communications era (ICT) executives with large enjoy and many years of senior management at pinnacle local groups and Fortune 500 corporations.
Building the Technology
The principal goals of this era is to permit customers to make their bills thru a couple of channels, and enable billers and economic establishments to apply business and fee remittance info in a unmarried transaction.
Achievements:
In 2016, Fawry turned into the chosen dependable provider hub for over 20 Million clients in Egypt consisting of payers, agencies and main economic establishments.
Fawry offers more than two hundred offerings and has multiple and 1/2 million operations day by day processed on Fawry’s community: payments, collections, reconciliations, settlements, new contracts and subscriptions.
Though it presented a novelty service type for Egypt, rapid market penetration and steady high-quality of provider helped Fawry’s transaction extent bounce to a splendid 16 Billion-EGP record in less than 8 years from its launch. From monthly and periodic payments, to single transactions, Fawry network covers nearly each type of consumer payment.
Fawry’s community increase reaches greater than 65,000 locations in 300 towns, and masking every city vicinity through its channel community such as ATMs, online, Mobile Wallets, retail stores, submit workplaces or even little vendor kiosks, supermarkets and pharmacies.
Mashable, one of the world’s biggest era web sites identified Fawry as one of the pinnacle important African Startups to look at. Fawry is ranked inside the thirteenth region among African pinnacle companies.
'Finance Monthly' has provided Ashraf Sabry 'Fawry’s CEO' a CEO award for 2013
Fawry Services
Fawry, Egypt’s first and biggest Electronic Payment Network serves consumers and businesses through diverse channels and hundreds of carrier factors throughout Egypt. The offerings to be had for bills include the following classes: telecom payments, utilities, training, charity, insurance, financial and banks, on-line bills, tickets and tourism, subscriptions, and vehicle licenses renewal.
Partnership
In 2016, Fawry has partnered with PinPay, a Lebanese cell payment carrier and agreed to offer all Fawry services to PinPay’s customers. Fawry’s telecom sector became the primary provider offered via PinPay’s mobile software, outlets, internet site and other companions with whom they have direct contact with.
Acquisition
- In 2015, A consortium of worldwide financial traders comprising the Egyptian-American Enterprise Fund ('EAEF'), Helios Investment Partners ('Helios', appearing on behalf of budget it advises) and the MENA Long-Term Value Fund ('MENA LTV') (together, the 'Consortium') introduced it had received a majority stake in Fawry, the electronic bill presentment and fee platform in Egypt at a buy fee valuing the employer at EGP 773 million, about US$ 100 million.
- In 2015, IFC, associate of the World Bank acquired 18% of the stocks of Fawry to growth the capital of Fawry and greater company expansions. This deal became the primary investment for the International Finance Corporation (IFC) of the World Bank in Egypt in that year. The shares distribution of Fawry went among several Egyptian and overseas banks, along with Alexandria The Sao Paolo and the Arab African International Bank, similarly to Raya Holding Company and Capital Trust and the Government Technology Development Fund.