Accel leads $4M investment in Egyptian corporate cards platform Swypex

Cards are gaining ground in Egypt, with over 30 million in circulation (prepaid cards, particularly, are seeing more use than debit and credit cards combined). This surge in card usage, about 14% in the last four years, is primarily due to the incentives introduced by fintech companies and banks, attracting millions of Egyptian consumers who previously relied mainly on cash for their transactions. The adoption of corporate cards tells a different tale. Businesses of all sizes have hesitated to embrace corporate cards because of limited access and inadequate spending controls...