Swypex Launches Egypt’s First Approval-Based Card, Transforming Corporate Spending
Swypex, Egypt’s leading all-in-one financial management platform, has officially launched the country’s first Approval-Based Limits Card, a groundbreaking tool that redefines how businesses manage and control expenses.
This innovative card, available exclusively through the Swypex Premium subscription, enables companies to assign spend limits that are only activated following managerial approval. This dynamic functionality grants finance teams unprecedented real-time visibility, control, and compliance, eliminating the risk of unauthorized transactions.
Redefining Spend Management in Egypt
Designed to mimic the operational discipline of petty cash systems, the Approval-Based Limits Card functions as a rotating balance, ensuring employees spend only within approved thresholds. This automation replaces outdated manual processes, empowering organizations to implement structured, policy-driven financial governance.
> “Egyptian businesses want control without friction, and this card gives them exactly that,” said Ahmad Mokhtar, Co-Founder and CEO of Swypex. “It bridges the gap between legacy cash-based systems and modern, secure digital spending – offering precision, speed, and peace of mind.”
A Timely Innovation Amid Digital Transition
Swypex’s launch comes as Egypt experiences a significant shift in its financial ecosystem. Despite over 74% of Egyptian adults now being financially included and mobile wallet usage on the rise, 94% of business payments remain non-digital, leaving firms vulnerable to inefficiencies and risks.
Swypex is tackling this challenge head-on with localized solutions built to global fintech standards, offering tools tailored to Egypt’s unique financial landscape.
Swypex Premium: A New Operating System for Business Finance
The Approval-Based Card is part of the new Swypex Premium suite — a subscription designed to help businesses of all sizes unlock smarter financial management. In addition to approval-based spending, the offering includes unlimited cashback, dynamic spend controls, and customizable approval workflows, all within one unified platform.
> “Swypex Premium is more than just a product — it’s a financial operating system,” said Tarek Mokhtar, Co-founder and Chief Product Officer. “From agile SMEs to complex enterprises, Egyptian businesses need infrastructure that’s scalable, intelligent, and intuitive. We’re not just digitizing finance — we’re reshaping how finance functions in the digital age.”
Backed by Global Investment and Central Bank Support
Swypex's innovation is backed by a $4 million seed round led by Accel, marking the VC giant’s first fintech investment in MENA, and licensed by the Central Bank of Egypt. Swypex offers a three-minute account setup, giving businesses fast-track access to integrated tools for payments, invoicing, smart cards, and financial workflows.
As Egypt continues its digital transformation, Swypex is poised to lead a new era in business finance — one where control, compliance, and simplicity go hand in hand.