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African Startup Funding Tracker

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Egyptian Startup Sympl Raises USD 6 Mn Seed Round
Egyptian Startup Sympl Raises USD 6 Mn Seed Round

Cairo-based fintech Sympl has raised a USD 6 Mn Seed round led by Beco Capital, along with A15 and Global Ventures. The startup plans to use the funding to accelerate the growth of its online and in-store merchant network, as well as improve the product offering to better serve the platform customers.

Sympl is a buy now pay later (BNPL) service, allowing merchants to sell products and services directly to customers on short-term and interest-free repayment plans.  With no pre-registration required and payment plans approved at checkout, the platform is an evolution of the checkout experience and provides an alternative, hassle-free purchase process promoting customer savings and a better matching of income and expenditure, without any compromising of lifestyle.