The new funds secured will assist Hollydesk in its expansion plans to other countries
Cairo-based fintech Hollydesk has announced a $325,000 pre-seed investment round led by Faisal Abdel Salam an angel investor who participated alongside other investors. As a fintech startup, Hollydesk manages and follows up on corporate expenses and Egyptian accounts looking for finance. The new funds secured will assist Hollydesk in its expansion plans to other countries
Mahmoud Moussa, the CEO founded Hollydesk in June 2021 to provide technological solutions that help SMEs monitor and control their daily expenses. Employees can then request cash and reimbursements through a Hollydesk app that connects company members within the system.
This app shows that there is instant communication between accountants and people can get approvals for budgets quicker than traditional methods. There is further an easier way to integrate suppliers, vendors, and buyers of the system.
Further, on the app, employers can transfer their salaries to employees through online banking or via Fawry. Hollydesk claims to have gained over 3000 clients from companies operating in the sectors of building, delivery, and construction.