SubsBase, subscription and recurring revenue management platform, raises $2.4 million in a seed round. The investment round was led by Global Ventures. Other participating investors include: HALA Ventures, P1 Ventures, Plus Venture Capital (+VC) , Plug and Play, Ingressive Capital, and Camel Ventures, plus existing investors Falak Startups and Arzan Venture Capital.
Founded in 2020, SubsBase is a cloud-based subscription, recurring revenue, and billing management platform, that empowers subscription and recurring-based businesses with the collection, operational, analytics, and billing tools to efficiently manage their clients.
“At SubsBase, our strategy is to empower companies to grow different and sustainable business models and add more recurring revenue streams. Our innovative platform immediately impacts clients, acting as a catalyst for new subscription-based growth. The new investment will advance product development, recruit appropriate talent, and grow our footprint in the region. This will significantly strengthen our subscription-based businesses in the MENA region,” Mohamed M. Farag, co-founder and Chief Executive Officer at SubsBase, stated.
The raised funds will be used to accelerate product development to cater to rapidly increasing customer demands and support the expansion strategy across the MENA region. The startup will also deploy the funds to develop its global and regional integration talent and build its educational content and business development support for recurring revenue-based businesses.
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