Cairo-based startup Sahl has successfully raised $6 million in Series A and seed funding to expand its role as a comprehensive financial services provider, acting as a one-stop shop for household bill payments in collaboration with government entities.

Funding and Investors

The Series A round was led by Ayady for Investment and Development, with existing investors including Egypt Pay, Delta Electronic Systems, and E-Finance joining in. This dual round of funding will enable Sahl to refine its offerings and develop new features aimed at providing a seamless, secure, and efficient user experience.

Expansion Plans

With a recent successful launch in the UAE, Sahl plans to further its regional footprint by establishing offices in Saudi Arabia (KSA) and strengthening its presence in Egypt and beyond. The startup's strategic vision aims to capture a significant portion of the EGP 2.5 trillion digital payments sector in Egypt, focusing on collections for utility companies, which represent an annual segment of EGP 250 billion.

Innovative Solutions

Sahl utilizes NFC technology to simplify the process of charging prepaid cards, allowing users to manage payments for electricity, water, gas, telecom services, and more without leaving their homes. The app integrates directly with several government entities, including the Egyptian Electricity Holding Co., New Urban Communities Authority, and all major telecom operators.

Product Offerings

Sahl's offerings extend beyond B2C functionalities to cater to the B2B sector through two main product lines:

  • Services Gateway: Aggregates bill payment services for other payment processors and enterprises, fostering a more interconnected financial ecosystem.
  • Acceptance Solution: Empowers businesses to accept online payments seamlessly, streamlining financial transactions.

Leadership and Vision

Sahl's leadership team brings a wealth of experience and expertise to the table:

  • Abdullah Assal, CEO: Former VP at Globaltronics, providing deep industry knowledge in the utility meter market.
  • Ahmed Othman, CPO: Former investment banker at CI Capital, contributing financial and strategic expertise.
  • Ibrahim Assal, CTO: Tech veteran with experience at Palantir, Careem, and Microsoft, enhancing Sahl's technological capabilities.

Market Impact and Growth

Since its inception in 2020, Sahl has rapidly grown to serve over 12 million customers monthly and 15 million households in Egypt. The app offers a comprehensive suite of bill payment services, saving users approximately 30 minutes per transaction. Sahl processes billions of Egyptian pounds through a diverse range of over 50 services.