Catalyst Partners seals Egypt’s first fintech SPAC deal in $23m Qardy buyout
- Catalyst Partners Middle East (CPME) completes Egypt’s first fintech SPAC merger by acquiring Qardy for $23 million.
- The acquisition of Qardy is executed through a share swap, aligning with CPME’s strategic expansion in digital lending.
- This acquisition targets micro, small, and medium-sized enterprises (MSMEs) seeking funding.
The successful SPAC merger between CPME and Qardy represents a transformative moment for Egypt's fintech landscape, showcasing the potential for innovative financing solutions in the region. This development could inspire further investments and encourage other startups to explore alternative funding methods, ultimately contributing to the growth of the local economy.
