Cairo –  Sahl has raised $6 million in Series A and seed fundings, led by Ayady for Investment and Development, along with Egypt Pay, Delta Electronic Systems, and E-Finance.

The Egypt-based fintech will use the funds to develop its offerings and extend its services to Saudi Arabia after its regional launch in the UAE, according to a press release.

Sahl plans to leverage its recent funding to evolve into a comprehensive financial services provider and refine new offerings, prioritising a frictionless, time-saving, and secure user experience.

In line with its strategic vision, the company aims to become the dominant player in facilitating digital payment transactions within Egypt's booming EGP 2.50 trillion digital payments sector.

They aim to achieve this by capturing a significant portion of collections on behalf of utility companies, a segment representing a sizeable EGP 250 billion annually.

Abdullah Assal, CEO of Sahl, said: “Our innovative use of NFC technology eliminates the need for consumers to leave their homes to charge prepaid cards, saving valuable time and effort.”

Ahmed Othman, CPO of Sahl, commented: “Sahl is our direct contribution to offer a world-class experience in terms of reliability & UX in a market that always compromised the end user”

The fintech company recently expanded its reach beyond direct-to-consumer (B2C) functionalities by catering to the business-to-business (B2B) sector through two distinct product lines.

Launched in 2020, Sahl has become a major player in the Egyptian fintech landscape, serving more than 12 million customers monthly and 15 million households in Egypt.

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