# Swypex

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/swypex

- Industry: Software
- Headquarters: Egypt
- Website: www.swypex.com/
- Total disclosed funding: $4M
- Latest round: Seed (May 7, 2024)
- Investors on record: 3

## About

Based in Eygpt and founded in 2022 by co-founders Ahmad Mokhtar, Sasan Hezarkhani, and Tarek Mokhtar, Swypex provides a way a way to easily access working capital, handle invoices, and make payments. In May 2024, Swypex raised USD 4 million in seed funding led by investor Accel, with participation from other investors Foundation Ventures and The Raba Partnership.

Swypex provides businesses with prepaid corporate cards for streamlined spending management and expense tracking. The platform allows businesses to simplify and categorize employee expenses through receipt uploads and automated data entry. Additionally, the company offers features like online account management, potentially including bill payments, transfers, and other functionalities. The platform streamlines the process of managing invoices by facilitating faster issuance, tracking, and potentially even online payments.

The company will use the May 2024 funding to begin operating in the Egyptian market after obtaining the CBE license as an all-inclusive platform to eradicate financial inefficiencies.

## Funding rounds

- Seed, May 7, 2024, $4M — Accel, Raba, Foundation Ventures

## Investors

- Accel (https://capitalatlas.ai/funds/accel) — Seed
- Raba (https://capitalatlas.ai/funds/raba) — Seed
- Foundation Ventures (https://capitalatlas.ai/funds/foundation-ventures) — Seed