Close Menu
Innovation Village | Technology, Product Reviews, Business
    Facebook X (Twitter) Instagram
    Monday, July 7
    • About us
      • Authors
    • Contact us
    • Privacy policy
    • Terms of use
    • Advertise
    • Newsletter
    • Post a Job
    • Partners
    Facebook X (Twitter) LinkedIn YouTube WhatsApp
    Innovation Village | Technology, Product Reviews, Business
    • Home
    • Innovation
      • Products
      • Technology
      • Internet of Things
    • Business
      • Agritech
      • Fintech
      • Healthtech
      • Investments
        • Cryptocurrency
      • People
      • Startups
      • Women In Tech
    • Media
      • Entertainment
      • Gaming
    • Reviews
      • Gadgets
      • Apps
      • How To
    • Giveaways
    • Jobs
    Innovation Village | Technology, Product Reviews, Business
    You are at:Home»Acquisitions»Telda acquires City Capital, secures regulatory approval for expanded services in Egypt
    Telda Team

    Telda acquires City Capital, secures regulatory approval for expanded services in Egypt

    0
    By Tapiwa Matthew Mutisi on March 21, 2025 Acquisitions, Business, Financial Services, Fintech, News, Startups

    Egyptian fintech startup Telda, which has garnered support from prominent global investors including Sequoia Capital, has made a significant move by acquiring the local securities brokerage firm City Capital. This acquisition represents a crucial step in Telda’s ambition to evolve into a comprehensive digital financial services platform. The announcement follows a landmark regulatory approval from the Financial Regulatory Authority (FRA), which has granted Telda Securities Brokerage the license to operate using financial technology across all relevant sectors for the first time in Egypt.

    This strategic acquisition positions Telda as the first application in the Egyptian market to seamlessly integrate prepaid card issuance, payment services, money transfers, and stock and mutual fund trading within a single user interface. This development is expected to democratize investment opportunities in the Egyptian Stock Exchange (EGX), potentially attracting millions of new customers who can now buy and sell equities directly through the Telda app.

    Founded in 2022 by Ahmed Sabbah and Youssef Shalqami, Telda initially focused on providing digital spending accounts and payment solutions tailored for millennials and Generation Z. The company quickly gained traction, securing $20 million in seed funding within the same year, with contributions from Global Founders Capital (GFC) and Block Inc. (formerly Square), alongside Sequoia. By 2023, Telda reported impressive growth, with 1.5 million app downloads, 500,000 active users, and transactions totaling $300 million, showcasing a strong demand for its digital-first approach to financial services.

    The newly acquired brokerage license signifies a major expansion of Telda’s offerings, aligning with its mission to transform how individuals in the Middle East, North Africa, and Pakistan (MENAP) region engage with their finances. “Telda is on a mission to simplify financial services for Egyptians and facilitate payments in their daily lives,” stated CEO Ahmed Sabbah. “By adding stock trading to the app, we are making investment opportunities accessible to millions of Egyptians.”

    While the financial details of the City Capital acquisition remain undisclosed, this move equips Telda with the necessary infrastructure and expertise to provide brokerage services. As a licensed securities brokerage firm, City Capital already operates within the regulatory framework of the EGX, allowing Telda to bypass the lengthy process of establishing a brokerage operation independently.

    Youssef Shalqami, Telda’s Chief Technology Officer, hinted at further innovations on the horizon, suggesting that this acquisition is “just the beginning of more innovations to come.” Hisham Ibrahim, Managing Director of Tilda Holding for Financial Investments in Egypt, emphasized the strategic significance of this step, noting that it is part of Telda’s broader ambition to become a “comprehensive destination for providing all non-banking financial services through financial technology.” He also acknowledged the FRA’s support in facilitating Telda’s service expansion.

    The FRA’s decision to grant Telda Securities Brokerage a full fintech license is a noteworthy development for the Egyptian financial landscape. It reflects a growing willingness among regulators to embrace technological innovation and facilitate the entry of new players into traditionally established sectors like brokerage. This regulatory shift could encourage other fintech companies to pursue similar expansions, fostering greater competition and innovation within the Egyptian financial services market.

    According to Telda, the timing of this expansion aligns with a rising interest among Egyptians in managing and investing their finances. The company is banking on the user-friendly interface of its app to attract both seasoned investors and newcomers seeking a convenient and accessible way to engage with the Egyptian stock market.

    Telda’s rapid growth and strategic initiatives underscore the increasing dynamism of the Egyptian fintech sector. The backing of renowned international investors like Sequoia Capital highlights the potential they see in the market and in Telda’s vision. Sequoia Capital, known for its early investments in tech giants such as Apple, Google, and WhatsApp, has been increasingly active in emerging markets, recognizing the opportunities presented by digitally savvy populations and evolving regulatory environments.

    The integration of brokerage services into Telda’s existing platform could significantly impact retail investment in Egypt. By lowering barriers to entry, such as the need for traditional brokerage accounts and complex trading platforms, Telda could encourage broader participation from a wider segment of the population, potentially enhancing liquidity and activity on the EGX.

    Telda’s acquisition of City Capital and the accompanying regulatory approval mark a pivotal moment for both the company and the broader Egyptian fintech ecosystem. As the first platform to offer a fully integrated suite of digital payment and investment services, Telda is well-positioned to capitalize on the growing demand for accessible and user-friendly financial solutions in Egypt.

    Egypt’s Fintech Telda  Secures $20 Million in Seed Funding Round Led by Global Founders Capital

    Related

    MASTERCARD POWERS LAUNCH OF TELDA’S COBRANDED PREPAID CARD IN EGYPT

    Mastercard Powers Launch of Telda’s Cobranded Prepaid Card in Egypt 

    Mastercard has powered the launch of Telda prepaid cards, an innovative payment solution jointly issued by one of the major banks in Egypt and a fintech. The solution is a product of a collaboration between Banque du Caire, one of the country’s leading financial institutions, and Telda, a fast-growing Egyptian…

    August 30, 2022

    In "Fintech"

    Telda

    Egyptian digital bank, Telda, secures $5m in pre-seed round led by Sequoia Capital

    One-month old Egyptian digital bank, Telda, announced that it has raised $5 million in a pre-seed round led by Sequoia Capital, Berlin-based Global Founders Capital (GFC);  and Class 5 Global. Founded in April by CEO Ahmed Sabbah and CTO Youssef Sholqamy, Telda is targeting the Gen Z in Egypt's 100 million people. The…

    May 17, 2021

    In "Banking"

    MASTERCARD AND TELDA LAUNCH EGYPT’S FIRST OF ITS KIND MONEY APP

    Mastercard and Telda Launch Egypt’s First of its Kind Money App

    Mastercard has announced a partnership with Telda for Egypt’s first of its kind payment app. This partnership is set to promote the country’s digital transformation and bring Egypt closer to its vision of becoming a digital economy, particularly benefiting new segments through an innovative consumer experience. Mastercard will also enable…

    May 25, 2021

    In "Apps"

    Acquisition Business City Capital Egypt Financial Regulatory Authority financial services fintech FRA Investments Regulatory Approvals Sequoia Capital Startups Technology Telda
    Share. Facebook Twitter Pinterest LinkedIn Email
    Tapiwa Matthew Mutisi
    • Facebook
    • X (Twitter)
    • LinkedIn

    Tapiwa Matthew Mutisi has been covering blockchain technology, intelligent technologies, cryptocurrency, cybersecurity, telecommunications technology, sustainability, autonomous vehicles, and other topics for Innovation Village since 2017. In the years since, he has published over 4,000 articles — a mix of breaking news, reviews, helpful how-tos, industry analysis, and more. | Open DM on Twitter @TapiwaMutisi

    Related Posts

    How to Use Wearable Tech to Track and Improve Your Health

    Swypex launches Egypt’s first approval-based limits card

    Knife Capital celebrates 15 years with Series A investments in Sticitt and Optique

    Leave A Reply Cancel Reply

    You must be logged in to post a comment.

    Copyright ©, 2013-2024 Innovation-Village.com. All Rights Reserved

    Type above and press Enter to search. Press Esc to cancel.