Egyptian Fintech Startup Sahl Secures $6 Million in Funding

An Egyptian startup company, Sahl has been founded to provide an integrated service to manage numerous household bills with the help of authorities and has received US$ 6 million in Series A and seed investments.

Sahl is the convenient way of paying bills through your mobile where users can pay bills for more than fifty services such as electricity, gas, water, & mobile. It is a platform with exclusively provided NFC technology that can help to recharge the prepaid card any time and at any place.

New products have been developed with B2B focus to broaden the audience as well as provide useful services and payment gateway for other startups and businesses.

Sahl received its first funding round worth $6 million in September 2021, from Ayady for Investment and Development, one of the most prominent Egyptian firms, with the participation of previous investors: Egypt Pay, Delta Electronic Systems, and E-Finance.

Being buoyed by the recent round of funding, Sahl is earmarked to expand to become much more than a money remittance firm. The company will build upon the new funds by creating and enhancing products that will offer clients efficiency in using services without compromise in terms of safety.

Ever since it has successfully launched its regional operations in the UAE, Sahl now looks forward to achieving its next strategic objectives in Saudi Arabia while renewing its focus on Egypt and other allied markets.

“At Sahl, we are committed to addressing the challenges faced by consumers in utility payments, starting with electricity and expanding to water, gas, telecom, and various other essential services,” said Abdullah Assal, Sahl’s CEO. “Our innovative use of NFC technology eliminates the need for consumers to leave their homes to charge prepaid cards, saving valuable time and effort.”