axis
Egyptian mobile wallet offering instant transfers, bill payments, business payouts and remittances.
axis is an Egyptian fintech, licensed by the Central Bank of Egypt, building mobile-money infrastructure aimed at underserved consumers and small businesses. Its consumer product, the axis Wallet, supports instant money transfers, bill payments, and online and offline shopping; axis Payouts lets businesses disburse payments instantly to any wallet or bank account in Egypt; and axis Remittances enables instant international payments into Egypt. The company was backed from around 2021 by Sawari Ventures while still at the idea stage, then spent roughly two years securing its license and building relationships with regulators and local banks before raising an $8.25 million seed round co-led by Tiger Global, Sawari Ventures and Raba (with participation from Firstminute Capital, RaliCap, and individual investors and executives from companies including Venmo, Rho, Cred, Revolut and Plaid). It publicly launched its AxisPay mobile wallet and digital payments platform for SMEs in May 2023. It is headquartered in Cairo, Egypt.