Swypex, an Egyptian fintech startup offering an all-in-one financial management platform, has unveiled a groundbreaking product: Egypt’s first approval-based limits card. This innovative solution is designed to modernize how businesses manage and control corporate spending, offering a new level of precision, transparency, and operational efficiency.
Founded by Ahmad Mokhtar, Tarek Mokhtar, and Sasan Hezarkhani, Swypex is fully licensed by the Central Bank of Egypt and provides businesses with a comprehensive suite of financial tools. These include:
- A real-time financial dashboard
- Smart corporate cards
- Seamless integration with accounting software and existing financial systems
In May 2023, Swypex raised $4 million in seed funding in a round led by global venture capital firm Accel, with participation from other prominent investors. Building on this momentum, the company has now launched its approval-based spend control card, available exclusively through its new Swypex Premium subscription tier.
A New Standard in Spend Control
The new card introduces a dynamic, approval-based limit system that mimics the operational logic of traditional petty cash management—only in a fully digital, secure format. Instead of assigning static spending limits, the card’s balance is activated only after a transaction is reviewed and approved by the finance team. This ensures that:
- No employee can spend beyond what’s authorized
- Finance teams maintain real-time visibility and control
- Spending is aligned with company policies and budgets
The card functions as a rotating balance, resetting with each approved transaction, and is designed to eliminate overspending, reduce reconciliation errors, and streamline expense tracking.
Ahmad Mokhtar, co-founder and CEO of Swypex, emphasized the product’s relevance to the local market:
Egyptian businesses want control without friction, and this card gives them exactly that. Approval-based limit cards bring a new standard of precision and agility to business finance. It’s the bridge between old-world cash management and seamless, secure corporate spending. This card empowers companies to shift from chasing expenses to controlling them—with clarity, speed, and confidence.
Swypex’s latest innovation reflects a broader trend in enterprise fintech: empowering finance teams with tools that combine automation, oversight, and flexibility. As Egyptian businesses increasingly digitize their operations, Swypex is positioning itself as a key enabler of smarter, more secure financial management.
