- Startup: FinTech.
- Founding date: 2020.
- Country: Egypt.
- Investors: Ayady for Investment and Development, Egypt Pay, Delta Electronic Systems, E-Finance.
The Egypt-based startup, Sahl, has raised $6 million in Series A and Seed funding rounds. Ayady for Investment and Development led the Series A round, joining existing investors Egypt Pay, Delta Electronic Systems, and E-Finance.
The Startup app allows users access to a suite of 50+ bill payment services for consumers, encompassing essential utilities like electricity, water, and gas, along with telecommunications top-ups, tuition fees, television subscriptions, and donations.
Sahl said it will leverage the funds to refine and develop new offerings, prioritising a frictionless, time-saving, and secure user experience. Sahl plans to expand its regional footprint by establishing offices in the KSA after its successful launch in the UAE.
Since its inception in 2020, Sahl has become a major player in the Egyptian fintech landscape, serving over 12 million customers monthly and 15 million households in Egypt. The startup also developed a solution for charging utility meters using the smartphone’s NFC.