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Egypt’s ‘Pay Later’ Platform, Simpl, Partners El Nada Hospital

December 20, 2021

Egypt’s first ‘Save Your Money Pay Later’ service announces a partnership with Egypt’s leading maternity hospital, El Nada Hospital. The partnership offers patients interest-free deferred payment programmes via the Sympl checkout platform.

According to sources in the know of the partnership, this will give patients of El Nada Hospital more payment choices and enhance their checkout experience, through enabling an improved cashflow management. With no registration required, and interest-free repayment plans approved on the spot in less than 10 seconds, this partnership will empower El Nada Hospital to help patients who have limited access to pay later plans with an affordable, interest free , and hassle-free solution.

El Nada Hospital, the largest birth center in Cairo, is dedicated to the healthcare of women and new-borns, providing high-quality care for expectant mothers and their babies. The hospital offers an array of services, with over 450 professors and consultants who have performed over 12,000 surgical operations and deliveries.

The co-founder and CEO of Sympl, Mohamed El-Feky, said, “We are delighted to partner with El Nada Hospital to help provide their patients with alternative payment options at the checkout and contribute to an improved cashflow management through the Sympl platform. As our first partner in the healthcare industry, we look forward to working closely with El Nada Hospital and making healthcare more accessible to Egyptians who may previously have had limited access to credit and repayment plans.”

Sympl was founded by renowned Egyptian FinTech entrepreneurs Mohamed El-Feky and Yasmine Henna – who co-created leading consumer finance company, ValU – and Karim Tawfik, co-creator of one of Egypt’s leading ecommerce platforms, Capiter.

Dr. Omar Abdelaziz, Executive Chairman of El Nada Hospital, said that they are thrilled to be able to offer our patients an improved checkout experience through our partnership with Sympl as part of our mission to provide maternity support to as many women and their babies as possible. By offering an alternative payment method to our customers, we hope to be able to empower patients to make better healthcare decisions, and we are excited to be able to do this through our partnership with Sympl.”

Sympl is the first deferred payment service in Egypt to allow merchants to sell directly to bank cardholders on short-term, fully interest-free, repayment plans. The platform is an evolution of the checkout experience and provides an alternative, hassle-free purchase process – promoting customer saving and a better matching of income and expenditure, without any compromising of lifestyle.

Launched in October 2021, Sympl is already now accepted at more than 240 retail and online stores in Egypt, and established partnerships with some of Egypt’s leading merchants and service providers. Sympl has recently closed a $6 million seed fundraise, led by Beco Capital with participation from A15 and Global Ventures. Sympl aims to accelerate its growth through merchant network expansion on multiple product and service categories and aims to cover a number of clinics, pharmacies, laboratories, and hospitals to expand its service offering to large customer segments in the healthcare sector.

Kelechi Deca

Kelechi Deca has over two decades of media experience, he has traveled to over 77 countries reporting on multilateral development institutions, international business, trade, travels, culture, and diplomacy. He is also a petrol head with in-depth knowledge of automobiles and the auto industry

Egyptian Fintech Startup, Sympl, Secures Funding From A15

November 5, 2021

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

SWVL’s Major Investor Leads $26m Series A Round In Egyptian Delivery Startup, Breadfast

Charles Rapulu Udoh

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