Five-month-old fintech ‘Sympl’, who describe themselves as Egypt’s first ‘save now pay later’ platform, has raised $6 million in a seed round led by Beco Capital, A15, & Global Ventures.
More details🧐 Sympl’s model is slightly different to existing ‘buy now pay later’ players. Rather than promoting purchasing, it gives customers more choices at the checkout & promotes customer saving, flexible cash flow management, & a better matching of income & expenditure.
Why is this important🤔 Sympl is currently accepted at more than 240 retail & online stores in Egypt, & plans to reach 1,000 stores by mid-2022. Sympl will use the funds to accelerate the growth of its merchant network to serve multiple product & service categories across online & in-store merchants, as well as improve the product offering to better serve the platform customers.