SubsBase has announced it has raised $2.4 million in seed funding to scale its operations in the Gulf region and North Africa [MENA]. The seed round was led by Global Ventures, P1 Ventures, Plus Venture Capital and others.
The Egyptian startup helps businesses and removes their overhead by managing the full subscription life cycle of invoicing, payments, and notifications.
In a statement, co-founder and CEO Mohamed Farag said: “The problem these businesses face, even huge enterprise accounts, is that they have many people doing all the work manually and data is delayed one or two weeks from the date of actual payments, and that leads to loss of revenue.”
“So once we jump in, we solve these problems by giving them one single tool and platform to use where everything is aggregated and real-time, allowing them to see and have a more visible outcome on their business, but also predict what’s going to happen and focus on their product instead of all of [those] operation headaches.”
SubsBase was established in 2020 by Farag alongside Sherif Aziz, the company’s chief business officer.
“We are growing the team and resources to be able to cater to the demands we are seeing across the region,” Aziz adds.
“We prioritise problems in a manner that helps them grow and catalyse the market with no-code features from one side of integration with other no-code platforms seamlessly so that people can and are encouraged to start building businesses with subscription models.”
