FOO PARTNERS WITH ENOVATE TO FURTHER DIGITAL TRANSFORMATION IN EGYPT

About eNovate

As a subsidiary of eFinance Investment Group (EFIG), eNovate is a leader in Egypt’s digital payment ecosystem. Established in 2009, eNovate has evolved into a comprehensive digital payment solutions provider, serving a broad range of clients, including governmental entities, NGOs, transportation authorities, fintechs, and financial institutions.
eNovate has already issued over 55 million cards and processes millions of transactions annually for Meeza, VISA, and Mastercard, solidifying its position as a trusted leader in Egypt’s payment ecosystem.

FOO’s Contribution to the Partnership

FOO brings its expertise in SaaS and its modular platform, built on a customizable suite of micro-services, to the partnership. This enables the development of a wide range of fintech products, from digital onboarding to digital banking, offering unprecedented flexibility, scalability, and security.

Introducing Fintech as a Service (FaaS)

Through this partnership, eNovate will also deliver Fintech as a Service (FaaS) solutions, designed to help fintech companies rapidly launch and scale their operations. FOO’s pre-built FaaS solutions streamline the development process, significantly reducing time and resource investments. Companies can transition from concept to deployment in just a few months, facilitating quicker market entry.

Key Projects Under the Partnership

One of the first initiatives under this partnership is a comprehensive digital solution for universities across Egypt.

This solution will integrate with universities’ learning management systems, allowing students to perform a variety of tasks, such as making payments and verifying their identity, via a single, user-friendly application.

FOO’s Vision for Digital Transformation

Ghady Rayess, Co-founder and Managing Director of FOO, emphasized the importance of innovation in the partnership:
“At FOO, innovation is integral to our approach. We are proud to partner with eNovate, a true industry trailblazer, to contribute to the remarkable transformation taking place in Egypt’s financial services sector. With the support of the Central Bank of Egypt (CBE), we are committed to delivering robust financial solutions that will not only strengthen eNovate’s position as a leading innovation hub but also further digital transformation across Egypt.”

eNovate’s Commitment to Growth

Nashwa Kamel, CEO of eNovate, highlighted the significance of the collaboration:
“We are delighted to be working with FOO. We look forward to continuing this partnership, driving further innovation, and providing more opportunities for our clients and their customers.”

Driving Egypt’s Digital Transformation

This partnership reflects a shared commitment to accelerating Egypt’s digital transformation. With eNovate’s robust infrastructure and FOO’s innovative technology, the collaboration is set to revolutionize the financial services industry in Egypt, empowering businesses and individuals alike.

About FOO

FOO is a UAE-based SaaS provider specializing in fintech solutions. Its modular platform, built on digital micro-services, allows for rapid customization to meet client-specific needs. FOO’s offerings include solutions for remittances, digital wallets, tokenized transactions, automated micro-lending, and Buy Now, Pay Later (BNPL) services.
FOO collaborates with global leaders such as Mastercard, Visa, Zain Group, and PwC to deliver innovative digital products across the MENA region, Africa, Europe, and the United States.

About eNovate

eNovate, a subsidiary of EFIG, has established itself as a pioneer in digital payment solutions, issuing over 55 million cards and managing millions of daily transactions. The company offers tailored solutions that optimize payment operations, ensuring speed, security, and convenience for its clients.