Grace Ashiru
Sahl, a startup based in Cairo, has secured $6 million in Series A and seed funding to establish itself as a comprehensive domestic bill management platform in partnership with government entities.
Ayady for Investment and Development, a leading Egyptian investment firm, led the $6 million funding round for Sahl, with participation from existing investors Egypt Pay, Delta Electronic Systems, and E-Finance.
With this latest round of funding, Sahl is set to transform into a comprehensive financial services provider.
Sahl is a mobile bill payment application that offers users the convenience of paying monthly invoices for over 50 services, including electricity, gas, water, and mobile. The platform also allows users to recharge prepaid cards anytime and anywhere using NFC technology.
The startup has also introduced B2B products to broaden its audience, offering utility services and payment acceptance to other companies.
“At Sahl, we are committed to addressing the challenges faced by consumers in utility payments, starting with electricity and expanding to water, gas, telecom, and various other essential services,” said Abdullah Assal, Sahl’s CEO. “Our innovative use of NFC technology eliminates the need for consumers to leave their homes to charge prepaid cards, saving valuable time and effort.”
The company will prioritize providing a frictionless, time-saving, and secure user experience by leveraging the new funds to refine and develop new offerings. Sahl intends to extend its regional presence by establishing offices in Saudi Arabia, thereby fortifying its position in Egypt and beyond, following a successful regional launch in the UAE.
