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QardyThe Story
Summary
Abdelaziz is CEO and a founder of Qardy, an Egyptian digital lending marketplace that connects smaller businesses with financial institutions. After a late-2022 soft launch and a seven-figure pre-seed round reported in August 2024, Qardy announced a SPAC acquisition, which Financial IT covered in May 2025 as an Egyptian first.
Details
Qardy is an Egyptian digital lending marketplace. It connects micro, small and medium-sized businesses with financial institutions. Financial IT, writing in May 2025, names Abdelaziz as CEO and a founder, alongside Tamer El-Manesterly and Aser Yehia. Launch Base Africa, in an earlier piece, names only two founders: Abdelaziz and Asser Yehia. Both reports date the founding of Qardy to 2022.
Qardy had a soft launch in late 2022, according to Launch Base Africa. In an article dated 6 August 2024, the outlet reports more than 1,000 corporate clients and more than $12 million in loan transactions. The same article says Qardy secured a seven-figure pre-seed round and does not give the exact amount. White Field Ventures and Vastly Valuable Ventures led it, with undisclosed angel investors also taking part. Abdelaziz, named there as a co-founder, said the team was thrilled to land the investment.
Financial IT reported on 19 May 2025 that Qardy had announced it is set to be acquired by Catalyst Partners Middle East in a SPAC acquisition. The report cites over 7,000 corporate clients and more than $19 million in facilitated loan transactions. It gives a valuation of about EGP 1.16 billion, roughly $23 million, in a full share swap for all of Qardy's equity. The report calls the proposed deal Egypt's first SPAC acquisition and the first time an Egyptian fintech startup would go public this way. Abdelaziz is quoted saying the partnership validates the business model and provides capital and strategic support to accelerate growth and expand services regionally.
