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At Gitex Africa 2024, Sahl connected with potential partners, investors, and customers, demonstrating its comprehensive range of services and cutting-edge technology. Sahl offers users unparalleled convenience, allowing them to pay bills for over 50 services, including electricity, gas, water, and mobile, through a single, easy-to-use platform. The app uses NFC technology, enabling users to recharge prepaid cards anytime and anywhere. Additionally, Sahl has introduced B2B product offerings to support utility services and payment acceptance for other companies, expanding its audience and impact.
Sahl is one of the few companies in Egypt directly integrated with several governmental entities, providing users seamless access to 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. Furthermore, Sahl is the exclusive provider of NFC prepaid electricity meters in Egypt, serving 15 million households with prepaid electricity meters. Through the app, users can charge their meters and pay online, saving around 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.
Distributed by APO Group on behalf of GITEX Africa.
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