Egyptian fintech startup Swypex has introduced the country’s first Approval-Based Limits Card, marking a significant milestone in corporate financial control. Designed to give finance teams enhanced oversight, this innovative card allows employee spending only after real-time approval is granted. As part of Swypex’s new Premium offering, the card reflects the company’s mission to bring smarter, more accountable financial tools to local businesses.
Smarter Spending Through Real-Time Controls
Unlike conventional corporate cards that come with preset monthly limits, Swypex’s new product operates on a transaction-level approval system. Each time an employee attempts to spend, the balance refreshes only after the finance team reviews and authorizes the transaction. This process mirrors the traditional petty cash model but replaces manual workflows with automated precision, eliminating opportunities for overspending or mismanagement.
Bridging Tradition and Innovation
Swypex CEO Ahmad Mokhtar described the card as a middle ground between old-fashioned cash handling and modern digital finance. In his words, “Egyptian businesses want control without friction — and this card gives them exactly that.” By offering a system that reduces manual reimbursements and static limits, Swypex introduces flexibility without compromising financial accountability.
Built for the Egyptian Market
This latest product launch follows Swypex’s earlier success in securing a $4 million seed round led by global VC firm Accel, marking its first fintech investment in the MENA region. Other investors included Foundation Ventures, Raba Partnership, and notable angel investors. Licensed by the Central Bank of Egypt, Swypex has emerged as a homegrown platform focused on digitizing core financial processes such as payment management, invoicing, and spend tracking.
Responding to an Urgent Need
Swypex is solving a critical pain point for Egypt’s 3.8 million businesses that continue to rely on fragmented systems and cash-based operations. As mobile wallets and digital banking grow in popularity among consumers, business-to-business transactions remain largely analog. Swypex is betting that customized digital tools, adapted for local workflows, can help SMEs transition away from cash without losing control over their finances.
Local Innovation Driving Regional Change
Co-founder and Chief Product Officer Tarek Mokhtar emphasized that Swypex’s products are deeply rooted in the realities of the local market. “We build products that specifically cater to the needs of the local market while pushing boundaries and spearheading innovation in the region,” he said. The Approval-Based Limits Card is positioned as the first of many solutions that aim to upgrade financial infrastructure for Egyptian businesses.
More Than Just a Card
The new Approval-Based Limits Card is part of Swypex Premium, a broader suite of tools designed to enhance financial control. Additional features in the package include unlimited cashback, custom spend settings, and tailored approval flows for different departments. This offering transforms how companies authorize and monitor expenses, giving them the ability to operate more efficiently and securely.
A Step Toward the Future
With Egypt’s financial ecosystem rapidly evolving, Swypex is aiming to be more than just a corporate card provider. The fintech wants to become the backbone of business finance in the country by providing end-to-end visibility, control, and automation. Its Approval-Based Limits Card offers a clear alternative to outdated methods, empowering finance teams to manage spending in real ti
Swypex’s new product is not just a technological upgrade — it’s a strategic move to align Egypt’s SME financial practices with global standards. In a market still dominated by cash and manual tracking, the Approval-Based Limits Card offers a compelling alternative that enhances security and control. For Egypt’s growing businesses, it may be the beginning of a smarter, more agile financial future.