Raising USD 6 mn? Sahl: Cairo-based fintech startup Sahl has raised USD 6 mn in a Series A round and seed funding led by the government’s Ayady for Investment and Development, according to a statement (pdf). The startup plans to use the funds to “refine and develop new offerings, prioritizing a frictionless, time-saving, and secure user experience.”

About Sahl: Founded in 2020, Sahl allows individuals and companies to pay bills and make payments through its mobile application. This includes utilities like electricity, water, and gas, as well as other services such as internet, telecom, TV subscriptions, and school fees. The company now serves over 12 mn customers every month and 15 mn households across the country.

A direct line with state entities: The company “is one of the few” that work directly with a number of government entities so that users can pay their bills, including the Egyptian Electricity Holding Company for electricity bills, the New Urban Communities Authority for water bills, all four of the country’s telecom operators, Petrotrade for gas bills payment, and Cable Network Egypt for TV subscriptions.

Expansion on the horizon? The startup wants to set up shop in Saudi Arabia following its launch in the UAE.

What they said: “We are committed to addressing the challenges faced by consumers in utility payments,” said CEO Abdullah Assal. “We developed the world’s first mobile solution for charging utility meters using near-field communication technology,” CTO Ibrahim Assal added.

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