Hollydesk, an Egyptian fintech start-up that offers expense management services for small and medium-sized businesses (SMBs), has secured $1 million in venture debt financing from undisclosed investors. The funds will be used to expand the company's suite of tools and reach more SMBs in Egypt looking for efficient expense management solutions.
Founded in 2020 by Mahmoud Moussa, Hollydesk provides easy-to-use tools for tracking and managing expenses, automating approval workflows, and generating reports to analyze spending patterns. In 2022 alone, companies using Hollydesk spent EGP130 million through the platform.
"Our mission is to help small and medium-sized businesses focus on what they do best by streamlining their expense management processes. "With this new funding, we can expand our reach and help even more companies across Egypt," said Mahmoud Moussa, CEO of Hollydesk.
Hollydesk's platform is designed to be user-friendly and offers features such as receipt scanning and real-time expense tracking. By using Hollydesk, businesses can save time and reduce the risk of errors or fraud in their expense reporting.
"We are excited to support Hollydesk in its mission to help SMBs in Egypt manage their daily expenses. "Hollydesk's innovative approach to expense management has already helped many companies save time and money, and we believe they have the potential to make an even bigger impact as they expand their offerings," said the venture debt provider.
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