Fawry, one of Egypt’s leading fintech companies, has announced a strategic investment of EGP 80 million ($1.6 million) in three prominent Egyptian technology companies: Dirac Systems, Virtual CFO (VCFO), and Code Zone. These investments, which grant Fawry majority equity stakes in each firm—51.0% in Dirac Systems, 56.6% in VCFO, and 51.0% in Code Zone—are aimed at expanding Fawry’s “Fawry Business” ecosystem.
By acquiring stakes in these companies, Fawry is reinforcing its position as a leading provider of digital business solutions, integrating financial technology with enterprise resource planning (ERP), accounting, and software development. This move is also expected to accelerate Egypt’s digital transformation efforts and enhance the country’s fintech and business automation landscape.
Strategic Investments to Strengthen Business Solutions
- Dirac Systems: A leader in ERP software and business automation solutions, Dirac Systems provides customized digital solutions to help businesses streamline operations across multiple industries. With Fawry’s backing, Dirac Systems will scale its ERP offerings and create more efficient financial management tools for businesses of all sizes.
- Virtual CFO (VCFO): A financial and accounting services provider, VCFO specializes in supporting SMEs and startups with financial operations, cash flow management, and tax compliance. The partnership with Fawry will lead to the development of integrated accounting solutions that seamlessly connect with digital payment systems, enhancing efficiency for businesses.
- Code Zone: A software development company specializing in business management tools, including CRM, HR, financial management, and enterprise solutions for the healthcare sector. With Fawry’s investment, Code Zone aims to develop more advanced, AI-driven business software that integrates digital payments with enterprise applications.
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Driving Digital Transformation and Innovation
According to Eng. Ashraf Sabry, CEO of Fawry, these investments solidify Fawry’s role as a one-stop digital solutions provider for businesses. “These acquisitions enable us to expand the Fawry Business suite, offering integrated ERP, accounting, HR, and digital payment solutions tailored for SMEs and large enterprises. Our goal is to empower businesses with cutting-edge financial technology, drive efficiency, and accelerate Egypt’s cashless economy initiatives,” he stated.
For Dirac Systems, the investment represents a milestone in its growth journey. Eng. Mohamed Hamed, CEO of Dirac Systems, emphasized that Fawry’s support will allow the company to scale its ERP solutions and provide fully integrated digital tools that enhance financial management and operational efficiency.
Similarly, Ahmed Farouk, CEO of VCFO, highlighted how the partnership will deliver comprehensive financial solutions, including seamless electronic invoicing and cash flow management tools that strengthen tax compliance and business efficiency.
Eng. Mohamed Youssef, CEO of Code Zone, expressed confidence that Fawry’s investment will fuel innovation in software development, helping to create advanced, user-friendly platforms that integrate financial services with business operations.
Positioning Fawry as a Fintech Powerhouse
With this strategic expansion, Fawry is reinforcing its commitment to Egypt’s digital transformation while enhancing its fintech leadership. The acquisition of technology-driven companies positions Fawry at the center of Egypt’s evolving business and financial ecosystem, offering an integrated business solutions platform that meets the growing demand for automation, efficiency, and seamless digital payments.
