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The Egyptian startup has raised $2.4 million in seed funding led by Middle East and Africa-focused venture capital firm Global Ventures. The cloud-based platform helps subscription and recurring revenue-based businesses with the collection, operational, analytics, invoicing, and billing tools to manage their clients efficiently. On the call, the founders pointed out that in addition to “SubsBase running on SubsBase,” the platform also employs a subscription-based business model; it has three different plans with fixed fees from which clients can choose. The chief executive said having pan-African investor Ingressive Capital — the fund’s first in Egypt — on its cap table will facilitate such plans.With this new investment, the company is also looking to ramp up commercial and branding efforts across MENA. The chief executive said SubsBase provides its platform to various customer segments and verticals. Sub-Saharan Africa is one of the regions where SubsBase is keen on serving businesses.
United StatesVenture CapitalSaas