How Fawry Reached The Egyptian Stock Exchange?
Updated: Sep 2, 2019
It is an Egyptian electronic network offering a range of financial services through more than 100,000 places, it was established in 2008 and was able to quickly reach the top in the Egyptian market and get support from investors such as Raya and Arab African Bank.
In 2009, Fawry was ready to launch as the first financial technology institution in Egypt to provide electronic payment in various fields and to provide collection services and started through 5,000 payment outlets in two cities only.
More than 90,000 outlets (retail outlets, small kiosks, libraries, pharma Payment of water Es) have become more and more advanced (e.g. payment of water, gas and electricity bills, mobile phone recharge and payment of expenses) University, payment of Arab violations, club subscriptions, and donations to various organizations and bodies) in more than 300 cities nationwide.
In 2014, it announced a profit of up to $ 26 million as one of the fastest-growing companies in the country In 2015, it was acquired by "Helios investment partner" for 100 million $.
In addition, Fawry pay provides customers with the ability to pay and buy online through a variety of payments (e.g. cash at an outlet, credit card payment, mobile wallets, or cash on delivery) In addition to their cooperation with large shipping companies to provide delivery service from the e-merchant customers.
At the beginning of the year, the company launched “Fawry FMCG” service, which aims to facilitate payment methods between merchants and consumer goods companies through the availability of various payment methods (such as cash payment, credit card payment, or through mobile wallets).
All of this has made Fawry a major and valuable company and we appreciate seeing the news of Fawry 36%, a new step in the successes and expansions of Fawry.