Cairo-based fintech startup Sahl is looking to expand to the Kingdom after it raised USD 6 mn in a series A round and seed funding led by 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 Egypt.

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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