A15, a major venture capital firm in the Mena region, has revealed that it is the first investor in Sympl, one of Egypt’s newest successful companies, which is destined to disrupt the country’s consumer payments sector.
“A15 has been a crucial partner in the early stages of our growth. 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,” Mohamed Elfeky, Chief Executive Officer of Sympl, said.
Why The Investor Invested
“At A15, we are committed to partnering with strong founding teams in the very early stages of their ventures, where we can work closely together to unlock value. We pride ourselves on the close relationships we maintain with the founders and their teams, supporting them from the beginning as part of the A15 family. We are excited to have backed Sympl from day one and are proud of the early positive signs from their launch. We look forward to continued close collaboration and scaling the business,” Karim Beshara, General Partner at A15, said.
A15 makes early investments in its portfolio companies, working directly with the founders to build value through several channels. A15 not only provides a crucial support network for founders, but it also assists businesses with operational issues such as product development and technology integrations, as well as planning for future fundraising rounds and exit plans.
A15’s cooperation with Sympl, whose co-founders have co-founded major consumer finance startup ValU and B2B commerce platform Capiter, puts both companies in a strong position. The venture capital firm was able to support the development of the Sympl checkout platform and effectively help bring it to market thanks to A15’s early investment in the company. Both companies will work together to continue driving innovation in Egypt’s payments sector and contribute to the country’s continuous commitment to a cashless society.
Since its inception, Sympl has had a lot of interest from clients who are leveraging Sympl technology on current merchant platforms, as well as a long list of merchants interested in partnering to incorporate Sympl to improve their consumer checkout experience.
A Look At What Sympl Does
Sympl is a buy now pay later business that allows merchants to sell products and services directly to customers on short-term, interest-free repayment plans. It was founded in October 2021 by Yasmine Henna, Mohamed El-Feky, and Karim Tawfik.
Sympl’s “Save your money, pay later” checkout platform was successfully launched in October with the help of A15, through an exclusive agreement with prominent Apple reseller Tradeline, just in time for the debut of the new iPhone 13. Other strategic alliances have been formed with major shops in the electronics and appliances (2B), jewelry (Al-Mawardy Jewelry, Damas, and Jawhara), car parts (Your Parts), hypermarket (Hyperone), and a variety of other categories, including furniture, fashion, travel, and medical services.
Sympl fintech A15 Sympl fintech A15
Charles Rapulu Udoh
Charles Rapulu Udoh is a Lagos-based lawyer who has advised startups across Africa on issues such as startup funding (Venture Capital, Debt financing, private equity, angel investing etc), taxation, strategies, etc. He also has special focus on the protection of business or brands’ intellectual property rights ( such as trademark, patent or design) across Africa and other foreign jurisdictions.
He is well versed on issues of ESG (sustainability), media and entertainment law, corporate finance and governance.
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