– Sahl, a Cairo-based startup, raised $6 million in Series A and seed funding to become a leading facilitator of digital payment transactions, with Ayady for Investment and Development leading the Series A round.

– Following a successful launch in the UAE, Sahl plans to expand its regional footprint by establishing offices in the KSA and strengthening its presence in Egypt, leveraging the new funds to enhance its financial services offerings.

– Sahl aims to dominate Egypt’s EGP 2.5 trillion digital payments sector by capturing a significant portion of utility bill collections, utilizing NFC technology to improve user experience, and forging strategic partnerships for new distribution channels and technology ventures.

Cairo-based startup Sahl has raised $6 million in Series A and seed funding to become the leading facilitator of digital payment transactions. This funding aims to establish Sahl as a one-stop shop for household bills in collaboration with government entities.

Ayady for Investment and Development, a prominent Egyptian investment firm known for supporting innovative startups, led the Series A round. Existing investors Egypt Pay, Delta Electronic Systems, and E-Finance also participated.

With the new funding, Sahl plans to evolve into a comprehensive financial services provider, focusing on a frictionless, time-saving, and secure user experience. After a successful regional launch in the UAE, Sahl aims to expand further by establishing offices in the KSA and strengthening its position in Egypt and beyond.

Sahl’s strategic vision is to dominate Egypt’s EGP 2.5 trillion digital payments sector by capturing a significant portion of collections for utility companies, representing an annual EGP 250 billion. To solidify its leadership, Sahl plans to forge strategic partnerships to unlock new distribution channels, collaborative technology ventures, and co-marketing opportunities.

“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 other essential services,” said Abdullah Assal, 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.”Ahmed Othman, CPO, added, “Sahl is our direct contribution to offering a world-class experience in terms of reliability and UX in a market that has always compromised the end user.”