This is Follow the Money, our weekly series that unpacks the earnings, business, and scaling strategies of African fintechs, financial institutions, companies, and governments. A new edition drops every Monday.
When Fawry launched in 2008 as an e-payment switch connecting utility providers and telecom operators to consumers through retail agents, its pitch was simple: Egypt was a cash-heavy economy, and it wanted to digitise it.
That limited scope has since expanded into a sprawling financial ecosystem that now serves nearly half of Egypt’s population, powering daily utility payments, loans, insurance, and other financial services. Fawry is now Egypt’s largest mobile money platform, and its revenue has equally grown.
In 2017, the company earned EGP 432 million (*$24.2 million) in revenue and netted EGP 53.7 million (*$3 million) in profit.
By 2025, its revenue has climbed to EGP 8.65 billion ($166.7 million), while net revenue reached EGP 3.1 billion ($59.7 million). After accounting for minority shareholders, Fawry’s take-home profit stood at EGP 2.89 billion ($55.7 million).
Fawry now earns more than 20 times what it did in 2017.
The $1.3B Money Loop
Mapping Fawry’s Financial Evolution
1,900% increase since 2017
