Sahl, an innovative Egyptian fintech company, has successfully raised $6 million in Series A and seed funding rounds. Led by Ayady for Investment and Development, alongside existing investors Egypt Pay, Delta Electronic Systems, and E-Finance, this funding will enable Sahl to enhance its offerings and expand its footprint both in Egypt and across the region.
Founded in 2020 by Ahmed Othman, Ibrahim Assal, and Abdullah Assal, Sahl has rapidly positioned itself as a leading bill payment platform, serving over 12 million customers per month and 15 million households. By integrating directly with multiple government entities, Sahl provides seamless access to essential services, including electricity, water, telecom, petrol, and TV subscriptions.
Sahl’s innovative use of NFC technology allows consumers to recharge their prepaid cards from the comfort of their homes, significantly saving time and effort. “Our commitment to addressing the challenges consumers face when paying for utilities is unwavering,” said Assal. The company plans to expand its services to cover additional essential utilities.
The startup aims to become a leading facilitator in Egypt’s digital payments sector by forming strategic alliances to create new distribution channels, collaborative technology ventures, and co-marketing opportunities. Sahl’s comprehensive approach is set to transform how Egyptians manage their household bills, making digital payments more accessible and efficient.
Sahl is also expanding its reach to the B2B sector through two distinct product lines. The Services Gateway acts as a central hub, integrating bill payment services from other payment processors, digital applications, and businesses, while the Acceptance solution streamlines online payment acceptance for businesses, further enhancing the financial ecosystem.
As Sahl looks to strengthen its presence in Egypt and beyond, the company is poised to make significant strides in the digital payments landscape. With this latest funding, Sahl is well-equipped to drive innovation, improve financial inclusion, and offer comprehensive financial services to millions across the region.
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