{"id":623792,"date":"2024-06-11T00:00:00","date_gmt":"2024-06-11T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2024\/06\/11\/fintech-player-sahl-closes-usd-6-mn-in-funding-round-led-by-the-states-ayady-investments\/"},"modified":"2024-06-11T00:00:00","modified_gmt":"2024-06-11T00:00:00","slug":"fintech-player-sahl-closes-usd-6-mn-in-funding-round-led-by-the-states-ayady-investments","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2024\/06\/11\/fintech-player-sahl-closes-usd-6-mn-in-funding-round-led-by-the-states-ayady-investments\/","title":{"rendered":"Fintech player Sahl closes USD 6 mn in funding round led by the state\u2019s Ayady Investments"},"content":{"rendered":"

Raising USD 6 mn? Sahl<\/strong>: <\/strong>Cairo-based fintech startup Sahl<\/a> has raised USD 6 mn in a Series A round and seed funding led by the government\u2019s Ayady for Investment and Development<\/a>, according to a statement (pdf)<\/a>. The startup plans to use the funds to \u201crefine and develop new offerings, prioritizing a frictionless, time-saving, and secure user experience.\u201d <\/p>\n

About Sahl:<\/strong> 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. <\/p>\n

A direct line with state entities: <\/strong>The company \u201cis one of the few\u201d 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\u2019s telecom operators, Petrotrade for gas bills payment, and Cable Network Egypt for TV subscriptions.<\/p>\n

Expansion on the horizon? <\/strong>The startup wants to set up shop in Saudi Arabia following its launch in the UAE.<\/p>\n

What they said:<\/strong> \u201cWe are committed to addressing the challenges faced by consumers in utility payments,\u201d said CEO Abdullah Assal. \u201cWe developed the world\u2019s first mobile solution for charging utility meters using near-field communication technology,\u201d CTO Ibrahim Assal added. <\/p>\n","protected":false},"excerpt":{"rendered":"

The company allows users to pay their utility bills through a mobile app<\/p>\n","protected":false},"author":1,"featured_media":623793,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7258],"tags":[155,72,183,95,123],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-623792","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-startup-watch","tag-digitization","tag-enterpriseam","tag-fintech","tag-startup-watch","tag-startups","wpautop","entry"],"acf":{"mongo_id":"86d680ec-4a5f-47b4-a577-dd9163745567","order":"9","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/6\/949.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Egyptian fintech startup Sahl closes USD 6 mn in funding round led by the state\u2019s Ayady Investments","related_issue":[623777],"teaser":"The company allows users to pay their utility bills through a mobile app","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/6\/.2412575c-5fd9-4c93-b7b5-e7f6a5ff5349.mp3"},"yoast_head":"\nFintech player Sahl closes USD 6 mn in funding round led by the state\u2019s Ayady Investments - 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FlapKap, which bills itself as the first company of its kind in the region, offers AI-based insight to \u201chelp optimize advertising spending\u201d for e-commerce and SaaS\u2026","rel":"","context":"In "Startup watch"","block_context":{"text":"Startup watch","link":"https:\/\/enterpriseam.com\/egypt\/category\/companies\/startup-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":586895,"url":"https:\/\/enterpriseam.com\/egypt\/2023\/05\/18\/fintech-startup-axis-launches-following-usd-8-3-mn-funding-round\/","url_meta":{"origin":623792,"position":3},"title":"Fintech startup Axis launches following USD 8.3 mn funding round","author":"enterpriseam admin","date":"18 May 2023","format":false,"excerpt":"The company is backed by Tiger Global, Sawari Ventures and Raba","rel":"","context":"In "Also on our Radar"","block_context":{"text":"Also on our Radar","link":"https:\/\/enterpriseam.com\/egypt\/category\/also-on-our-radar\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/5\/1043.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":560757,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/03\/11\/fintech-startup-dayra-raises-usd-3-mn-in-pre-seed-funding-round\/","url_meta":{"origin":623792,"position":4},"title":"Fintech startup Dayra raises USD 3 mn in pre-seed funding round","author":"enterpriseam admin","date":"11 March 2021","format":false,"excerpt":"Egyptian fintech startup Dayra has closed a USD 3 mn pre-seed funding round that includes both equity and debt financing, according to a company press release (pdf). EFG EV Fintech, EFG Hermes, Tanmiya Capital Ventures and a number of angel investors all participated in the round, which closed after the\u2026","rel":"","context":"In "Startup watch"","block_context":{"text":"Startup watch","link":"https:\/\/enterpriseam.com\/egypt\/category\/companies\/startup-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/3\/171.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":591476,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/12\/08\/egyptian-led-fintech-startup-tribal-credit-raises-usd-5-5-mn-seed-round\/","url_meta":{"origin":623792,"position":5},"title":"Egyptian-led fintech startup Tribal Credit raises USD 5.5 mn seed round","author":"enterpriseam admin","date":"8 December 2019","format":false,"excerpt":"STARTUP WATCH- Tribal Credit raises USD 5.5 mn seed round: Tribal Credit, a Silicon Valley-based fintech startup co-founded by Egyptian entrepreneurs Amr Shady and Mohamed Elkasstawi, has raised USD 5.5 mn in a seed funding round led by BECO Capital and Global Ventures, according to an emailed statement (pdf). The\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/623792","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=623792"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/623792\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/623777"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/623793"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=623792"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=623792"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=623792"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=623792"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=623792"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}