Matouk Bassiouny Advises Raseedi in Strategic Kashat Acquisition
Deal News | Jan 23, 2025 | Legal Community MENA
Matouk Bassiouny UAE has acted as legal advisor to Raseedi, a fintech startup, in its acquisition of Kashat and its subsidiary, Pharos Microfinance. Raseedi, known for its dual SIM smart mobile app aimed at helping Egyptian users save on communications costs, is strategizing an expansion of its services through this acquisition. The acquisition of Kashat, a digital lending platform, allows Raseedi to provide instant loans of up to EGP 3000, specifically targeting small business owners and sole proprietors. This strategic move seeks to enhance financial inclusivity by offering quick and flexible financing options to underserved businesses in Egypt.
Sectors
- Fintech
- Legal Services
Geography
- Egypt – Raseedi operates in Egypt, targeting local mobile users and small business owners with its mobile app and new instant loan products.
- United Arab Emirates – Matouk Bassiouny, the legal advisory firm in the deal, is based in the UAE, playing a critical role in the acquisition.
Industry
- Fintech – The article involves fintech companies Raseedi and Kashat, which are engaged in digital financial services, mobile applications, and lending platforms.
- Legal Services – Matouk Bassiouny is a law firm providing legal advisory services for the acquisition deal, making the legal services industry relevant.
Financials
- EGP 3000 – The maximum amount of instant loans that Raseedi plans to offer following its acquisition of Kashat.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Raseedi | Acquirer | Company | A fintech startup providing a smart mobile app for dual SIM users in Egypt. |
| Kashat | Target Company | Company | A digital lending platform that Raseedi is acquiring. |
| Pharos Microfinance | Subsidiary | Company | A nano-financial services provider and a subsidiary of Kashat. |
| Matouk Bassiouny | Legal Advisor | Company | A law firm advising Raseedi in its acquisition of Kashat. |