What is SettlePay?
Founded in 2023 by Kamil Sayour and Mostafa Mobarak, SettlePay operates as a web-based B2B payment platform. Its core mission is to streamline financial operations for enterprises by simplifying payment workflows and providing actionable, real-time cash flow data and insights. The company is positioned to address the evolving needs of businesses seeking greater efficiency and transparency in their financial management.
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 Shorooq Partners, Plus Venture Capital (+VC, Elsewedy Electric, and Acasia Ventures
Key Investors in SettlePay
Shorooq Partners
Shorooq Partners is a leading alternative investments manager in the MENA region, specializing in venture capital and private credit. They partner with visionary founders across various sectors, providing investment and management expertise to fuel growth.
Plus Venture Capital (+VC
Plus VC is a venture capital firm focused on empowering early-stage startups in the MENA region for sustainable growth, providing fair terms, fast deals, and extensive support from seed stage to Series A.
Elsewedy Electric
Elsewedy Electric creates sustainable projects in energy and infrastructure that enable businesses, communities, and regions to thrive, offering holistic, start-to-finish solutions with a commitment to excellence.
What's next for SettlePay?
The recent major strategic investment signals a pivotal growth phase for SettlePay. This backing is expected to fuel further development of its platform, enhance its market reach, and potentially expand its service offerings. The company's focus on real-time cash flow data positions it to capitalize on the increasing demand for sophisticated financial management tools in the enterprise sector. Future expansion may involve deeper integration with existing financial systems and the introduction of advanced analytics capabilities.
See full SettlePay company page
