What is SettlePay?
Founded in 2023 by Kamil Sayour and Mostafa Mobarak, SettlePay operates a web-based B2B payment platform designed to streamline financial operations for businesses. The company focuses on simplifying payment processes and providing real-time cash flow data and insights, aiming to modernize how enterprises manage their finances.
How much funding has SettlePay raised?
SettlePay has raised a total of $3M across 2 funding rounds:
Other Financing Round
$1M
Other Financing Round
$2M
Other Financing Round (2024): $1M, investors not publicly disclosed
Other Financing Round (2024): $2M led by Plus Venture Capital (+VC, Shorooq Partners, Acasia Ventures, and Elsewedy Electric
Key Investors in SettlePay
Plus Venture Capital (+VC
Plus VC is a venture capital firm focused on empowering early-stage startups in the MENA region for sustainable growth. They provide fair terms, fast deals, and extensive support to visionary founders from seed stage to Series A.
Shorooq Partners
Shorooq is a leading alternative investments manager based in the MENA region, focusing on venture capital and private credit. They partner with visionary founders across various sectors, providing investment and management expertise to fuel their growth.
Acasia Ventures
Founded in 2011, Acasia Ventures, formerly Cairo Angels, is a venture capital investment company based in Cairo, Egypt.
What's next for SettlePay?
The recent major enterprise-level funding suggests SettlePay is entering a significant scaling phase, likely focusing on expanding its market reach and enhancing its platform's capabilities. This strategic investment will probably fuel product development, bolster sales and marketing efforts, and potentially support international expansion, positioning SettlePay as a key player in the B2B fintech landscape.
See full SettlePay company page
