Egypt-Born Fintech Startup SubsBase Raises $2.4 Million in Seed Round
Founded in 2020 by Mohamed M. Farag and Sherif Aziz, SubsBase is a cloud-based subscription, recurring revenue, and billing management platform that aims to help businesses manage their clients.
SubsBase, a subscription and recurring revenue management platform based in Egypt, has raised a $2.4 million Seed round led by Global Ventures. Other participating investors included HALA Ventures, P1 Ventures, Plus Venture Capital (+VC), Plug and Play, Ingressive Capital, and Camel Ventures, as well as existing investors Falak Startups and Arzan Venture Capital.
Founded in 2020 by Mohamed M. Farag and Sherif Aziz, SubsBase is a cloud-based subscription, recurring revenue, and billing management platform that aims to provide businesses with a variety of tools to efficiently and effectively manage their clients. Some of these tools include collection, operational, analytical and billing, amongst other services.
“At SubsBase, our strategy is to empower companies to grow different and sustainable business models and add more recurring revenue streams,” Mohamed M. Farag, co-founder and Chief Executive Officer at SubsBase, tells StartupScene. “Our innovative platform immediately impacts clients, acting as a catalyst for new subscription-based growth.”
The startup’s platform removes companies’ overheads by managing the full subscription lifecycle of invoicing, payments, and notification. This enables companies to focus on their core products and services, and acquire and retain more customers to grow their business. As an added bonus, SunsBase’s platform also easily integrates with its clients’ existing systems.
SunsBase works with clients from various sectors across Egypt including SaaS companies, real estate businesses on mortgage and utility payments, and lending companies on the recurring collection on installments The new funds will be used to accelerate product development and support the startup’s expansion strategy across the MENA region.