SubsBase, an Egyptian subscription and recurring revenue management platform catering to the MENA region, has successfully closed its seed round at $2.4 million. The investment round was led by Global Ventures.
Other participating investors included: HALA Ventures, P1 Ventures, Plus Venture Capital (+VC) , Plug and Play, Ingressive Capital, and Camel Ventures, plus existing investors Falak Startups and Arzan Venture Capital.”
Founded in 2020, SubsBase is a cloud-based subscription, recurring revenue, and billing management platform, that empowers subscription and recurring-based businesses with the collection, operational, analytics, and billing tools to efficiently manage their clients.” All business face the operational challenge of “managing revenues and collection; specifically the diversification of payment forms and providers.”
SubsBase’s no code / low code platform “removes the overhead for companies completely, by managing the full subscription lifecycle of invoicing, payments, and notifications.” An extra, material benefit is that SubsBase’s platform easily “integrates with its clients’ existing systems.”
SubsBase’s removal of a subscriber’s lifecycle management overhead allows businesses to focus on their core products and services. By offering comprehensive subscription and recurring payments management solutions, SubsBase is “a catalyst for businesses, helping businesses acquire and retain more customers, and scale rapidly without the overhead distraction.
It works with different customer segments and verticals, “such as SaaS companies; lending companies on the recurring collection of installments and insurance premiums; and real estate companies on mortgages and utility payments.”
Mohamed M. Farag, co-founder and Chief Executive Officer at SubsBase, commented: “At SubsBase, our strategy is to empower companies to grow different and sustainable business models and add more recurring revenue streams. Our innovative platform immediately impacts clients, acting as a catalyst for new subscription-based growth. The new investment will advance product development, recruit appropriate talent, and grow our footprint in the region. This will significantly strengthen our subscription-based businesses in the MENA region.”
He added: “We have a first-mover advantage and a strong business model – which is endorsed by our esteemed investors. Our aim is to create a sustainable, profitable ecosystem for subscription-based businesses, and deliver both unique value and best-in-class technology.”
The newly raised funds will be “deployed to accelerate product development to cater to rapidly increasing customer demands and support the expansion strategy across the MENA region.” SubsBase has “a first-mover advantage and aims to roll out its platform across MENA.”
The startup will also “deploy the funds to develop its global and regional integration capabilities and build its educational content and business development support for recurring revenue-based businesses.” This will “enable, and ultimately promote, growth in the market.”
Sherif Aziz, co-founder and Chief Business Officer at SubsBase, said: “We are delighted to have the backing of Global Ventures plus new and existing investors. This is a proud moment for the entire team. It validates our business model and strategy and allows us to tap into their wealth of knowledge, and benefit from their outstanding regional expertise.”