Cairo - Mubasher: Swypex, Egypt’s all-in-one financial management platform, has launched the nation’s first approval-based limits card to revolutionize corporate spending control, according to a press release.
The card offers dynamic spend limits that unlock once transactions are reviewed and approved, enabling finance teams to access real-time oversight and exact control over spending.
It also operates as a revolving balance, ensuring employees spend only within approved limits.
It replaces fragmented, manual processes with an automated, policy-driven system that enhances financial governance and boosts operational efficiency.
The Co-Founder and CEO of Swypex, Ahmad Mokhtar, highlighted: “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. This card empowers companies to shift from chasing expenses to controlling them with clarity, speed, and confidence,” the CEO added.
The Co-founder and Chief Product Officer, Tarek Mokhtar, said: “We build products that specifically cater to the needs of the local market while pushing boundaries and spearheading innovation in the region.”
“From fast-growing SMEs to complex enterprises, Egyptian businesses need financial infrastructure that’s powerful, simple, and scalable. That’s why we designed Swypex Premium as more than just a tool but rather a comprehensive financial operating system," he noted.
Mokhter concluded: "With advanced spend controls and approval workflows developed to integrate with existing financial processes, we’re not just digitizing finance; we’re fundamentally reshaping how it works in Egypt’s evolving economic landscape.”
Egypt’s financial infrastructure has been evolving, with over 74% of adults financially included and mobile wallets are expanding. However, 94% of business payments are still not digital.
Swypex is backed by a $4 million seed round led by Accel and licensed by the Central Bank of Egypt (CBE).
