Egypt’s Qardy Acquired in First-Ever Spac Merger for Local Fintech

TLDR

• Qardy has been acquired by Catalyst Partners Middle East in the country’s first special purpose acquisition company (SPAC) merger
• The platform has served over 6,000 corporate clients and facilitated more than EGP 550 million (USD 12 million) in loan transactions
• The SPAC merger, executed via a share swap, makes Qardy the first Egyptian fintech to go public using this structure

Egyptian digital lending platform Qardy has been acquired by Catalyst Partners Middle East in the country’s first…