In a bold move to revolutionize micro, small, and medium enterprises' (MSMEs) access to debt financing, Egyptian startup Qardy has forged a strategic partnership with Cashcall. This groundbreaking collaboration aims to usher in a new era of financial prosperity for MSMEs by leveraging innovative solutions and cutting-edge technology.
Founded in July 2022, Qardy has positioned itself as a marketplace and aggregator dedicated to streamlining the process of debt financing for MSMEs. Abdel Aziz Abdel Nabi, the visionary founder, envisions Qardy as the "Amazon of lending." Qardy seeks to address the existing challenges in the lending landscape, particularly the prolonged waiting times for loan approvals. With a manual lending process that heavily relies on personal connections, MSMEs often face arduous hurdles. Qardy's mission is to slash the loan approval waiting time from nine months to approximately 18 days.
The Strategic Partnership: Qardy x Cashcall
Cashcall, a prominent player in the financial sector, has developed an inclusive financial multi-purpose platform. Operating through B2B, B2C, and B2M modules, Cashcall provides a spectrum of solutions, including a payment network, gateway, aggregation, open finance hub, request to pay, and a cashless app. The Qardy-Cashcall partnership is strategically crafted to deliver cutting-edge financial solutions tailored to meet the diverse needs of CashCall's extensive network of merchants and customers. This collaboration aims to provide seamless access to a myriad of tailor-made financial instruments, empowering MSMEs on their growth journey.
Qardy has specifically chosen Cashcall for its AI competency centre, a dedicated hub for analyzing user data and behavior. This strategic utilization of artificial intelligence positions Qardy to enhance its capabilities in understanding and meeting the evolving needs of its user base.
Pioneering Financial Inclusion
Qardy's visionary approach, coupled with the strategic alliance with Cashcall, signifies a pivotal moment in the realm of MSME financing. As these two entities join forces, they are set to redefine the landscape by fostering financial inclusion, expediting loan processes, and providing a comprehensive suite of financial tools. The Qardy-Cashcall partnership stands as a testament to the transformative power of collaboration in driving positive change in the financial ecosystem for MSMEs.