Egyptian fintech startup, Sahl, has recently announced the successful closure of a $6 million funding round aimed at bolstering its expansion plans. Led by Ayady for Investment and Development, in conjunction with existing investors Egypt Pay, Delta Electronic Systems, and E-Finance, this funding is expected to propel Sahl into becoming a leading provider of financial services in Egypt and beyond. Founded in 2020, Sahl has quickly gained traction as a convenient bill payment platform, catering to millions of customers across Egypt.
Transforming Financial Services: With a vision to evolve into a comprehensive financial services provider, Sahl intends to leverage the investment to enhance its current offerings and innovate new solutions. The company aims to solidify its foothold in Egypt while simultaneously extending its reach to the wider region. This expansion strategy includes a recent launch in the UAE and plans for further regional penetration.
Digital Payment Facilitator: At the core of Sahl’s mission is its ambition to revolutionize digital payment transactions in Egypt’s burgeoning fintech landscape. By forging strategic partnerships with governmental entities and key industry players, Sahl aims to streamline the bill payment process for millions of households. Through direct integration with government agencies such as the Egyptian Electricity Holding Co. and the New Urban Communities Authority, Sahl provides users with seamless access to essential services.
User-Centric Approach: Since its inception, Sahl has prioritized user convenience and accessibility. By offering a platform that enables users to recharge prepaid cards and settle bills effortlessly, Sahl has garnered a significant user base, serving over 12 million customers per month and reaching 15 million households in Egypt. This user-centric approach has positioned Sahl as a trusted partner for digital financial transactions.
Founders’ Vision: Founded by Ahmed Othman, Ibrahim Assal, and Abdullah Assal, Sahl embodies the entrepreneurial spirit and innovative drive of its founders. With a deep understanding of Egypt’s evolving fintech landscape, the founders are committed to leveraging technology to address the diverse financial needs of the population. Through strategic collaborations and continuous innovation, Sahl aims to revolutionize the way Egyptians manage their finances.
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