Cashew was conceptualized nearly two years ago to make it easier for people to access finance for their shopping needs. At Cashew we are positioning ourselves as a pioneer of instant digital finance in the MENA region by providing consumers the possibility to buy products and pay later with flexible payment options: DELAY – Pay After Delivery
DIVIDE – Credit and debit card Installment Plans DEFER – New credit line without a need for credit or debit card
We are a payment platform that enables merchants, consumers, and financial institutions to conduct real-time transactions (Digital financing and payment on installments). Our data-driven platform allows consumers to obtain access to instant finance thanks to our underwriting system that takes into account multiple factors including structured and unstructured data which help us conduct soft credit scores check without impacting the user’s AECB credit score.
At Cashew we:
• Provide our customers with the ability to “buy now, pay later” by either utilizing their existing credit card/debit card or apply for a new credit line without incurring any type of hidden fees.
• Enable point of sale finance, and extended it to all sectors of the economy
• Target the Middle East retail market with a focus on sales through credit
• Enable merchants to offer end-consumers installment-based payment options
• Provide merchants with a tool to increase sales, increase average order values, and reduce cart/checkout abandonment.
Head of Business Development - Dounia Amrani
With a love for all things technology and business, Ammar Afif, wears many hats and has been involved in the success journeys of several small businesses across Canada, America, Pakistan, and the UAE.
Currently, the founder of cashew, the first 360-degree instant payment and digital finance solution in the MENA region, Ammar’s inclination towards entrepreneurship dates back to 1999 when after a 5-year stint with the reputed global consultancy firm PWC in auditing and transactions, he moved to Silicon Valley to join a start-up founded by his close friend.
After that, there was no looking back. He started working with founders and investors to grow, build, scale, and implement new technologies. He worked with companies including Pronto Networks: OSS/ BSS for Wi-Fi networks, TNS Media, and NaviNet: HealthCare IT in the initial years. With his belief in the potential and dynamism of emerging markets, he widened his horizon to various sectors including healthCare, FinTech, digital, augmented reality, and more.
Later, Ammar has spent the past two decades between San Francisco, New York, and Boston, where he honed his expertise in this field as a Venture Capitalist, PE investor, Chief Financial Officer, and Chief Operating Officer.
To date, he has successfully raised over $400 million in equity and debt financing that has led to 12 mergers and acquisition (M&A) deals and five successful exits, which most recently includes Cayan, a former leading fintech that was acquired by TYSS for $1.2 billion.
Some of the Investors that Ammar worked with include Parthenon, GE, Intel, Lightspeed, NorthBridge, Atlas Ventures, Mayfield, and BCBS Investors.
In Pakistan, he launched and sold Cardwalla, a digital gift card business, led the launch (and later exited) of AugmentCare, a digital health company, and launched cashew, a premier digital financing platform that provides consumer-friendly alternative payments to cash & credit cards.
Born in Pakistan, raised in Montreal, Ammar completed his graduation and post-graduation from McGill University in Canada and later qualified as a chartered accountant.
Ibtissam is digital product specialist that builds products from conceptualization to delivery; she has lead tech teams in meeting their milestones and is exceptional at driving them to growth and success. After spending nearly, a decade in the banking sector as a product manager where she had a significant contribution in the launch of some of UAE’s most prominent mobile apps such as the country’s first digital KYC platform “UAE PASS”, Dubai Police Smart Payment Services, & the FAB payit Wallet.
Ibtissam knows what truly drives the payment sector, consumer needs, and how to seamlessly offer solutions that work well for both the industry and consumers alike.
Ibtissam has in the past achieved tremendous success in the roles she has assumed some of which include entering into an exclusive investment partnership with Mastercard while working with Orix Corporation – growing the initial investment by 465% to $ 13M. While working for MBMEPAY, she led account management for 50 key accounts worth over $3B in revenue which included Etisalat, Du, Fly Dubai, and Air Arabia.
Ibtissam holds a Bachelor’s degree from Universita Degli Studi Di Catania, and also holds certifications from Visa in Emerging Technologies and Customer Lifecycle Management.