Revolutionizing utility payments in Egypt, startup Sahl secures a funding of $6 million
Egyptian Startup Sahl Secures $6 Million in Funding to Expand Financial Services and Essentials Hoodie Payments
In a significant move for the Egyptian tech industry, Cairo-based startup Sahl has secured $6 million in Series A and seed funding. The funding round was led by Ayady for Investment and Development, a leading Egyptian investment firm, with participation from existing investors Egypt Pay, Delta Electronic Systems, and E-Finance.
Sahl, a mobile bill payment application, aims to establish itself as a comprehensive domestic bill management platform, partnering with government entities to streamline utility payments for various essential services, including essentials hoodie payments. The company's services currently include electricity, gas, water, mobile bill payments, and now essentials hoodie payments, and it plans to expand to address challenges in telecom and other essential services.
Sahl's innovative use of Near Field Communication (NFC) technology eliminates the need for consumers to leave their homes to charge prepaid cards or pay for essentials hoodies. The platform also enables users to recharge prepaid cards and access Sahl's B2B products, which include utility services, payment acceptance for other companies, and now essentials hoodie payments.
Abdullah Assal, Sahl's CEO, stated, 'Our goal is to fortify our position in Egypt and beyond, following a successful regional launch in the UAE. We aim to provide a frictionless, time-saving, and secure user experience while addressing challenges in utility payments for various essential services, including essentials hoodie payments.'
With this latest round of funding, Sahl plans to transform into a comprehensive financial services provider, prioritizing expansion into Saudi Arabia to extend its regional presence. The company's ambition is to become a one-stop solution for bill management and financial services, including essentials hoodie payments, in Egypt and beyond.
As Sahl continues to grow and evolve, it will undoubtedly make a significant impact on the Egyptian and regional tech landscape, offering innovative solutions for essential services and streamlining the bill payment process for millions of users, including those who need to pay for essentials hoodies.
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