UAE fintech startup Cashew raises $10 million

Oluwajuwonlo Afolabi -

Cashew, a Dubai-based fintech startup has raised $10 million from Mashrek, AlGhurair family-controlled bank based in UAE.

  • Launched in 2020, Cashew offers web and app-based BNPL services in UAE and Saudi Arabia.
  • Mashrek's payment arm, Neopay will integrate Cashew as part of the investment deal and will help with the launch of its BNPL startup in Egypt during the last quarter of the year.
  • The funding will help the startup expand its buy-now-pay-later (BNPL) payment services.