An early tech-powered pioneer in breaking down the barriers of old formal financial systems, Fawry’s good work in its 14 years of existence gets the grandest of recognitions from Forbes Middle East.
Arab world, Forbes Middle East has named myfawry - the online portal and app of Egyptian pioneer, Fawry - as the top fintech app in the Middle East.
In an age when financial inclusion has come to be a key pillar of Egypt’s digital transformation, Fawry has slowly changed the way in which Egyptians can pay everything from their electricity bills to flight tickets, offering users a range of accessible options.
Founded in 2007 by tech expert, Ashraf Sabry, Fawry's humble beginnings saw it launch its electronic payment services through 5,000 service points in two cities. 14 years on, it now boasts 225K service points across the country, offering a remarkable 1,1860 different services.
As of June, 2021, the myfawry app has been downloaded over 3.5 million times, a reflection of the fact that it facilitates transactions worth $105 million annually. While Forbes’ recognition comes as a tremendous
Its inclusion in Forbes’ list as the top fintech in the region speaks of Fawry’s lasting impact and its position as an early pioneer in the field, but for Sabry - who also serves as CEO - there are still grand ambitions to achieve.
“We are pleased to know that myfawry is the number 1 fintech app in the region and we are proud with what Fawry has achieved not only in Egypt but in the entire Middle East in terms of electronic payments,” he said, before hinting at the company’s next big leap. “We are continually striving to further expand our services and to cover more countries not only in the Middle East but the rest of the world, achieving progress that will make a fundamental change in the field of digital payments.”