EGYPT – A15, a venture capital firm supporting entrepreneurs in the Mena region, has announced its investment in Egypt fintech startups Sympl.
Sympl was launched in October by co-founders Mohamed El-Feky (CEO), Yasmine Mohmed Henna (CCO) and Karim Tawfik (CTO) who experienced FinTech/technology entrepreneurs from the region, creating solutions for the region.
Mohamed and Yasmine previously co-founded one of Egypt’s most successful consumer finance businesses – ValU, whilst Karim co-created Capiter, one of Egypt’s most respected B2B commerce platforms.
Sympl, a new, first-of-its kind service in Egypt, enabling customers to shop and pay later, with no interest. As Egypt’s first ‘Save Your Money, Pay Later’ platform for customers, Sympl ensures hassle-free payment solution for customers.
“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,” Karim Beshara, General Partner at A15, said.
“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 continuing close collaboration and scaling the business.”
Focused on tech startups and with a long track record in generating value for fintech, A15 is a key partner both in capital investment but also knowledge and experience. A15 invests in its portfolio companies at an early stage, working closely with the founders to generate value across different channels.
As well as providing an invaluable support network for founders, A15 also supports startups operationally, through product development or technology integrations, and preparing for future funding rounds and exit strategies.
With A15’s early investment in the startup, the venture capital firm was able to support the development of the Sympl checkout platform and successfully help to bring it to launch.
Together, both companies will continue to drive innovation in Egypt’s payments sector and contribute to Egypt’s ongoing commitment to a transition to a cashless society.
“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,” Mohamed Elfeky, Chief Executive Officer of Sympl, said.
“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.”
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