SubsBase, a Cairo, Egypt-based first and only subscription and recurring revenue management platform catering to the MENA region, announced that it closed $2.4 million in a seed round.
The investment round was led by Global Ventures, a leading MEA-focused venture capital firm. 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.
The newly raised funds will be used to accelerate product development to meet rapidly increasing customer demand and to support the MENA region expansion strategy. SubsBase has the first-mover advantage and plans to expand its platform throughout MENA.
SubsBase will also use 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, market growth.
Company: SubsBase
Raised: $2.4M
Round: Seed Round
Funding Month: Aug 2022
Lead Investors: Global Ventures
Additional Investors: HALA Ventures, P1 Ventures, Plus Venture Capital (+VC), Plug and Play, Ingressive Capital, Camel Ventures, Falak Startups, and Arzan Venture Capital
Company Website: https://subsbase.com/
Software Category: Subscription, recurring revenue, and billing management platform
About the Company: Founded in 2020 by Sherif Aziz and Mohamed Farag, 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. The SaaS platform provides clients with operational, analytics, and billing tools to efficiently manage their subscribers, taking away the entire overhead of subscriber's lifecycle management and keeping them focused on their core product/service. SubsBase’s no code/low code platform removes the overhead for companies completely, by managing the full subscription lifecycle of invoicing, payments, and notifications. SubsBase 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.
Source: https://www.zawya.com/en/press-release/companies-news/subsbase-raises-us24mln-in-seed-round-led-by-global-ventures-mu4i3c2k