Contact signs a new financing program with Capiter Egypt

Contact Financial Holding, Egypt's leading non-banking financial services company, through its subsidiary Contact Factoring, has signed one of the largest financing programs with Capiter Egypt, which specializes in supporting small and medium enterprise traders and suppliers. This unique deal allows Capiter to offer its customers a distinct experience and grow together.

As an extension of Contact support to Egyptian startups, it will help Capiter expand all over Egypt by enabling it to finance its business and the business of its clients from SMEs to traders and suppliers in various fields, by creating an integrated chain of services through the Capiter platform.

The financing program begins with 100 Million EGP as a first phase and grows with the growth of Capiter's business.

 “This deal is an extension of Contact’s vision in the Egyptian market. Supporting small and medium-sized enterprises is a key direction in the development of the economy and market mechanisms.” Mr. Saeed Zutter, member and CEO of Contact Financial Holdings.

“We work with all actors and companies to support the various businesses through our services for more than 20 years, and the financing program that Contact offers to Capiter is the product of a shared vision of corporate support in all governorates. In addition, the provision of diversification in finance through fintech and digital transformation will contribute to the overall development of the Egyptian market, as well as to the increase in sales volume and supply operations that reflect the stable economic situation in Egypt.” Added Zutter.

He stressed that the expansion of the financing of SMEs was an important step in the direction of supporting those startups, which are an important component of the Egyptian economy. "These companies have become the basis for opening up many new areas in Egypt, which will benefit everyone, both at the state and the economy level, to the consumer itself,” He added.

Mr. Mahmoud Noah, CEO of Capiter, expressed gratitude for the partnership, which will support the supply of over 70,000 traders and over 1,000 suppliers to cover all over Egypt. He explained that Capiter works with traders and SMEs owners through a common platform to help them obtain goods and orders through the use of advanced technology that helps SMEs learn about their market trends as well as to help build their distribution strategy to increase the efficiency of distributions. We aim to be the main platform for SMEs in all areas through procurement, payment methods and payments. "

Contact Holding Group has undertaken a package of strategic transactions and investments in the fintech and technology sectors to expand their reach and reach different sectors with a range of integrated financial solutions that they offer. Contact continues to implement this strategy to support and engage startups in all areas that match the group's services and products.

Capiter started working in Egypt in July 2020, as an e-commerce platform aimed at connecting traders and SMEs directly to suppliers through an application. It provides a comprehensive service to customers so that they can apply for purchase and order a delivery service as well as provide an e-payment mechanism. It offers its services through a network of + 70,000 merchants and hundreds of global and local manufacturers, as well as a fleet of + 400 trucks providing + 7,000 products across its platform at an annual growth rate of 11 times.

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