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Egyptian Fintech Startup Sahl Secures $6 Million in Funding to Become One-Stop Bill Payment Hub

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Egyptian fintech company Sahl has secured $6 million in funding to solidify its position as a one-stop shop for household bills in collaboration with government agencies.

The funding round was led by Ayady for Investment and Development, alongside existing investors Egypt Pay, Delta Electronic Systems, and E-Finance.

Sahl plans to leverage the fresh capital to transform into a comprehensive financial services provider.

This includes improving existing offerings and developing new financial products.

The company also aims to expand its regional footprint after a successful launch in the United Arab Emirates (UAE).

The startup seeks to become a leading player in Egypt’s digital payments sector, facilitating seamless transactions.

It intends to achieve this through strategic partnerships that unlock new distribution channels, collaborative technology ventures, and co-marketing opportunities.

Founded in 2020, Sahl has already carved a niche for itself in the Egyptian market. The bill payment platform allows users to conveniently recharge prepaid cards and boasts a user base exceeding 12 million customers and 15 million households served monthly.

One of Sahl’s key differentiators is its direct integration with multiple government entities. This unique feature allows users to pay bills for various utilities, including electricity (Egyptian Electricity Holding Co., EEHC), water (New Urban Communities Authority, NUCA), telecom services (Vodafone, WE, Orange, Etisalat), petrol (Petrotrade), and even TV subscriptions (Cable Network Egypt).

“Our innovative use of Near Field Communication (NFC) technology empowers users to recharge prepaid cards without leaving their homes, saving them valuable time and effort,” said a company representative.

Sahl has also strategically expanded its offerings beyond direct-to-consumer (B2C) services to cater to the business-to-business (B2B) sector. This two-pronged approach involves the Services Gateway, a central hub that integrates bill payment services from various sources, fostering a more interconnected financial ecosystem.

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