Egypt (ADCB Egypt) and PaySupp, a financial technology startup, has Partnered to offer business supply chain vendors cutting-edge financing options.
In the presence of senior executives from both organizations, Ihab El Sewerky, Managing Director and CEO of ADCB Egypt, and Ahmed Alaa, CEO of PaySupp, signed the agreement, which seeks to support businesses in better managing their working capital and ensuring business continuity in the face of economic problems.
Suppliers can now get their deferred payments on more favorable conditions and with greater speed thanks to the early payment service offered by the new platform, which offers flexible and integrated financial facilities.
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“ADCB Egypt supports the development of financial technologies and services in line with its strategic plan,” said El Sewerky. “This partnership aids in fostering corporate growth and expansion plans, increasing funding options, and improving supply chain efficiency by controlling risks and boosting operational performance. Additionally, it enhances liquidity and supports projects aimed at driving economic development and entrepreneurship in Egypt. This collaboration will strengthen the corporate infrastructure and contribute to implementing sustainable economic practices and creating better job opportunities in the Egyptian market.”
Better terms for payments assist businesses by lowering operating expenses, increasing operational effectiveness, boosting cash flow, and promoting closer supplier relationships.
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Ahmed Alaa, CEO of PaySupp, expressed his enthusiasm about the partnership: “We are pleased to partner with ADCB Egypt to launch the early payment service for companies. This partnership highlights the vast potential of B2B fintech solutions in Egypt. Our platform leverages data and technology to help companies secure liquidity, overcoming the challenges faced by the sector due to extended payment cycles.”
About ADCB Egypt
ADCB Egypt, With cutting-edge banking solutions, Egypt’s third-largest financial institution in the United Arab Emirates hopes to become its clients’ first choice bank.
About PaySupp
PaySupp, Online B2B Fintech SaaS Platform that digitizes collection, payouts, and financing by allowing businesses to deliver digital BNPL to clients and early payable payment to their supplier chain through balance sheet financing and bank partnerships.
