Saturday December 2nd, 2023
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Egypt-Based Fintech Sympl Scores New Investment from Leading VC A15

With A15’s critical early investment and support, Sympl is on track to spearhead Egypt’s ongoing transition to a cashless society.

Startup Scene

One of MENA’s leading venture capital firms, A15, has invested in Sympl, an Egyptian-based checkout platform to transform the country’s consumer payments sector. With A15 as their first investor, and the  extensive industry experience that co-founders Mohamed El-Feky (CEO), Yasmine Mohmed Henna (CCO) and Karim Tawfik boast, Sympl has already gained significant traction, attracting a myriad of merchants interested in embedding Sympl to improve their checkout experience.

With A15’s critical early investment and support, Sympl is on track to becoming an integral part of Egypt’s ongoing transition to a cashless society. The venture capital firm supported the development of the checkout platform and successfully helped bring it to launch. Sympl’s ‘buy now, pay later’ checkout platform has made big strides since its launch in October, snagging an exclusive partnership with leading Apple reseller, Tradeline, on the release of the iPhone 13 release. The startup has forged a number of strategic partnerships with a number of key retailers in the electronics and appliances sector, jewelry, auto parts and hypermarkets encompassing categories such as furniture, fashion, travel and medical services. 

“A15 has been a crucial partner in the early stages of our growth,” El-Feky said. “Their support in product development initiatives, tech integrations and connections to their startups’ ecosystem have been important in our early success. We look forward to continuing our partnership with them to drive innovation, provide new solutions for merchants and consumers, and contribute to the transition to a cashless society in Egypt.” 

Focused primarily on tech startups exhibiting potential to generate value for fintech, A15 has more than 30 investments in MENA, offering financial support as well as industry knowledge and experience. As a firm that invests in its portfolio companies at an early stage, A15 helps startups develop and grow their business through operational support and product development or tech integrations.