SME fintech startup Hollydesk looking to close six-figure USD round

Fintech startup HollyDesk is looking to close a six-figure USD funding round by the end of the month, CEO Mahmoud Moussa told Masrawy, without disclosing the exact amount or the investors. Proceeds from the round will allow the company to grow its customer base, which focuses particularly on companies with fewer than 1k employees, Moussa added. The company also plans to expand to Saudi Arabia by the end of the year, followed by North Africa at a later stage, Moussa said.

What does the company do, anyway? HollyDesk provides a SaaS tool that offers companies a dashboard to manage their finances, including real-time expense tracking and management of both receivables and payables through a payment gateway. The company has teamed up with our friends at CIB to provide rapid collection of funds through electronic wallets for employees or other company-verified parties, and is in talks with Fawry to provide a similar service.