$2.4 M Seed funding raised by Egyptian subscription management platform SubsBase

SubsBase, an Egyptian subscription and recurring revenue management platform, has secured US $2.4 million in a preliminary round of investment to boost its growth across the MENA region and speed up product development.

SubsBase is a cloud-based subscription, recurring revenue, and billing management platform that provides organizations with the collection, operational, analytics, and billing solutions to effectively manage their customers. It was founded in 2020 by Mohamed M. Farag and Sherif Aziz.

Due to its no-code or low-code platform, which controls the whole subscription lifecycle, including billing, payments, and alerts, businesses are fully freed from overhead. The platform of SubsBase is extremely simple to integrate with the current systems of its customers.

The business has successfully concluded its seed round at US $2.4 million. Global Ventures, a renowned venture capital firm with a focus on the MEA, led the transaction. Along with current backers Falak Startups and Arzan Venture Capital, additional participating investors include HALA Ventures, P1 Ventures, Plus Venture Capital (+VC), Plug & Play, Ingressive Capital, and Camel Ventures.

“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,” Farag said.

“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 money will be used to speed up product development in order to meet the startup’s growing client demand expansion across the MENA region. Additionally, it intends to improve business development assistance for recurring revenue-based enterprises, expand its training material, and strengthen its regional and worldwide integration skills.

Global Ventures managing partner Noor Sweid described SubsBase as a business driven by a strong team with a clear vision and a plethora of technical and business knowledge.

“Importantly, we see an attractive and unique value proposition that extends beyond subscription services to include an all-encompassing and convenient platform to manage any and all kinds of recurring payments, from small subscriptions to car loans. We are thrilled to back Mohamed and the team on their journey toward building the first subscription management platform for the region,” he said.