Egyptian fintech startup ADVA has raised an undisclosed six-digit US dollar seed funding round to help it expand its offering. Founded in 2020 by Rania Gaafar, ADVA is a consumer lending platform that allows customers to pay for a wide variety of services and products in installments. The startup has now raised a six-figure seed round from local VC firm Sawari Ventures, which it plans to use to expand its product offering and the scope of its financial services. ADVA plans to launch a new package of installment services that include wedding parties, car maintenance, insurance and travel. “We invested a six-digit figure in US dollars as seed fund in ADVA, considering it a genuine opportunity for collaboration between startups and major financial institutions.

Source: The North Africa Journal June 16, 2022 23:34 UTC