Cairo-based startup Sahl raises $6m funding round (Series A and seed funding) to act as a one-stop shop for household bills, in collaboration with government entities.
Sahl is a mobile bill payment app that offers users the convenience of paying bills for over 50 services including electricity, gas, water, and mobile. Utilizing NFC technology, the platform allows users to recharge prepaid cards anytime, anywhere.
The startup has also launched B2B products to expand its audience by offering utility services and payment acceptance to other companies.
Sahl’s US$6 million funding round was led by Ayady for Investment and Development, a leading Egyptian investment firm, with participation from existing investors Egypt Pay, Delta Electronic Systems, and E-Finance.
Fueled by the recent round of funding, Sahl is set to evolve into a comprehensive financial services provider. The company will leverage the new funds to refine and develop new offerings, prioritising a frictionless, time-saving, and secure user experience. After a successful regional launch in UAE, Sahl plans to expand its regional footprint further by establishing offices in Saudi Arabia, strengthening its position in Egypt and beyond.
“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.”
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