Sahl has expanded its customer base and influence by introducing B2B product offerings that facilitate utility services and payment acceptance for other businesses.
Sahlpay, a leading mobile bill payment application in Egypt, recently participated in Gitex Africa 2024, a prominent technology event in Africa. This participation highlights Sahlpay's dedication to presenting its innovative solutions on a global platform and its significant role in transforming the financial landscape in Egypt and beyond.
During Gitex Africa 2024, Sahl engaged with prospective partners, investors, and clients, showcasing its extensive service portfolio and innovative technology. Sahl provides exceptional convenience to users, enabling them to seamlessly pay bills for various services, including electricity, gas, water, and mobile, through a unified, user-friendly platform. The application leverages NFC technology, allowing users to conveniently recharge prepaid cards at any time and location. Furthermore, Sahl has introduced B2B product offerings to facilitate utility services and payment acceptance for other companies, thereby expanding its reach and impact.
Sahl is one of the few companies in Egypt that has direct integrations with several government entities. This allows users to seamlessly access services from Egyptian Electricity Holding Co (EEHC), New Urban Communities Authority (NUCA) for water services, telecom operators (Vodafone, WE, Orange, and Etisalat), Petrotrade for gas services, Cable Network Egypt, and others. Additionally, Sahl is the sole provider of NFC prepaid electricity meters in Egypt, catering to 15 million households with prepaid electricity meters. Through the app, users can conveniently recharge their meters and make payments online, saving approximately 30 minutes per transaction by eliminating the need to visit a charging station.
In another significant development, Sahl has been selected to join the prestigious Visa Accelerator program. This program is designed to help innovative fintech startups scale their operations and enhance their technological capabilities. Through the Visa Accelerator program, Sahl will gain access to Visa’s vast network, resources, and expertise, accelerating its growth and expanding its service offerings.
Sahl has also successfully raised $6 million in Series A and seed funding, positioning itself as a one-stop shop for household bills in collaboration with government entities. The funding round was led by Ayady for Investment and Development, a prominent Egyptian investment firm known for supporting innovative startups. Joining Ayady in this investment are existing investors Egypt Pay, Delta Electronics, and E-Finance Investment Group, all of whom bring significant expertise and resources to the table.
"We are thrilled to have the support of esteemed investors as we continue our journey to revolutionize bill payments in Egypt," said Abdullah Assal, Sahl CEO. "These developments will enable us to enhance our technology, expand our services, and reach more users, ultimately contributing to financial inclusion and digital transformation in the region."
Sahl's dynamic team of founders brings a wealth of experience and expertise to the company. CEO Abdullah Assal, with an MBA from Stanford and a background in leading Globaltronics, drives the company's vision. CPO Ahmed Othman, known as Kika, leverages his product management and finance experience at CI Capital, to foster innovation. CTO Ibrahim Assal, with a rich background in software engineering from companies like Palantir, Careem, and Microsoft, ensures robust technological development.
Sahl is dedicated to digitizing utility payments in Egypt, driving the adoption of digital channels over traditional cash transactions. With a vision to build a comprehensive Super-app for financial management, Sahl is committed to delivering world-class financial services to its customers.
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