Axis Pay CEO: Egypt Has the Potential to Build Billion-Dollar Fintech Companies Competing Globally
Egypt has the market fundamentals needed to develop billion-dollar financial technology companies capable of attracting international investment and competing across African and global markets, according to Jack Marco, Co-Founder and CEO of Axis Pay.
Marco attributed this potential to Egypt’s population of more than 120 million, widespread mobile phone adoption, expanding digital infrastructure and the development of the regulatory framework governing the financial sector.
He made the remarks during a strategic session at the Artificial Intelligence and Data Center Expo (AIDC EXPO), held as part of Cairo ICT 2026. The discussion focused on the future of fintech, international investment opportunities and the role of artificial intelligence in accelerating startup growth.
Axis Pay Processes More Than 22 Million Transactions Monthly
Marco presented Axis Pay’s experience in the Egyptian market, explaining that the company began operations in 2021 with the aim of developing innovative electronic payment solutions through a digital wallet designed to simplify financial transactions.
The company has built its entire technology infrastructure in Egypt and now employs more than 250 people, including over 70 engineers specializing in systems development and digital solutions.
Axis Pay currently processes more than 22 million financial transactions every month. It also surpassed one million customers within the first three years following the launch of its digital wallet in 2023.
Marco noted that such operational indicators are essential to investors when assessing a startup’s growth prospects and its ability to scale its business.
International Investment Requires Scalable Business Models
Discussing the company’s fundraising journey, Marco said Axis Pay initially secured a relatively small investment round from Egyptian investment funds to finance its technology infrastructure, meet regulatory requirements and obtain the necessary approvals to launch its services.
He explained that attracting international investors requires a clear demonstration of market opportunities, growth potential, management capabilities and a scalable business model capable of generating sustainable returns.
Investors, he added, look beyond a company’s existing product and revenue figures, focusing instead on its ability to expand its customer base and operations over the coming years.
Central Bank of Egypt Supports Fintech Development
Marco praised the progress made in Egypt’s financial regulatory environment, highlighting the Central Bank of Egypt’s role in creating conditions that support fintech companies.
He said improvements to financial infrastructure, alongside regulatory and legislative developments over the past four to five years, have enabled companies to develop products and introduce services after meeting compliance requirements and obtaining the necessary approvals.
He added that regulatory clarity is a key factor in attracting investment, particularly in electronic payments, where trust, stability and compliance are essential.
Artificial Intelligence Reduces Product Development Costs
Marco emphasized that artificial intelligence has significantly transformed technology product development by allowing startups to test ideas and build minimum viable products (MVPs) faster and at lower costs.
He explained that when Axis Pay was established, the company needed a team of more than 40 engineers during its first six months to build its technology infrastructure.
Today, startups can leverage AI tools to accelerate development and test product viability before committing substantial investment.
He also noted that companies do not necessarily need to develop their own AI models, as they can adopt globally available models to improve their services and operational efficiency.
According to Marco, these technologies can reduce software development and operating expenses while enabling businesses to serve larger customer bases without proportional increases in costs.
Human Talent Remains Essential to Building Billion-Dollar Companies
Marco stressed that achieving billion-dollar valuations requires more than advanced technology. Success also depends on founders’ market knowledge, understanding of competition and ability to assemble strong teams.
Investors assess founders’ ability to identify their products’ competitive advantages, understand customer needs and lead teams capable of executing growth strategies.
He added that building billion-dollar companies requires an integrated ecosystem of skilled professionals, financial institutions and strategic partners. Even with rapid AI advancements, specialized teams and diverse expertise remain essential.
Egypt Positioned as a Gateway to African Fintech Markets
Marco described Egypt as a potential launchpad for fintech companies seeking to develop products and technology infrastructure locally before expanding into African and international markets.
He concluded that combining human capabilities, innovation, institutional financing and artificial intelligence could help Egyptian startups evolve into major regional and global technology businesses.
