# Sympl Company for Financial Solutions and Technology SAE

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/sympl-company-for-financial-solutions-and-technology-sae

- Industry: Financial Services
- Headquarters: 6th of October, Egypt
- Website: www.sympl.ai
- Total disclosed funding: $6M
- Latest round: Seed (Dec 9, 2021)
- Investors on record: 3

## About

Sympl is a financial technology platform that offers interest-free payment solutions, enabling consumers to make purchases at partnered retailers in flexible installment plans without hidden fees or interest charges.Founded in 2021 and headquartered in 6th of October, Egypt, Sympl Company for Financial Solutions and Technology SAE provides innovative payment solutions for consumers. The company was co-founded by Karim Tawfik, Mohamed El-Feky, and Yasmine Henna, with Mohamed El-Feky serving as CEO. In December 2021, Sympl raised USD 6 mn in a Seed round, co-led by BECO Capital, Global Ventures, and A15, bringing the total amount raised to USD 6 mn. The firm has completed 2 deals to date, with its most recent deal occurring on 2021-12-09.Sympl is a financial technology platform that provides interest-free payment solutions for consumers and retailers. Launched in 2021, the company enables customers to purchase products and services using short-term payment plans structured into three, four, or five installments. This is accomplished without any application processes, hidden fees, or interest charges, making it accessible for anyone with an eligible bank card. Sympl primarily serves consumers in Egypt, allowing them to make purchases at a wide range of partnered retail outlets, including major brands across various categories such as fashion, footwear, beauty, and more. By facilitating an easy checkout experience, Sympl aims to empower users to manage their expenses while shopping, promoting customer loyalty and enhancing purchasing power.Sympl's revenue model is based on transaction fees collected from merchants when customers utilize their payment solutions at checkout. Retailers partner with Sympl to offer flexible payment plans, which can significantly enhance sales volume and average order values. Transactions occur directly at the point of sale, whether in-store or online, where customers select their preferred payment plan and make an optional down payment. The service includes a one-time service fee paid at the time of purchase, which contributes to Sympl's revenue stream. This approach allows retailers to tap into a broader customer base, potentially increasing their sales by 20% to 70%, while providing a seamless shopping experience for consumers without the burden of traditional financing methods.Following its recent Seed funding of USD 6 mn raised in December 2021, Sympl plans to expand its merchant network to serve a wider range of products and services for both online and in-store merchants. This growth strategy aims to improve its product offerings to better cater to platform consumers, supporting their goal of enhancing the user experience and accessibility in the market.

## Funding rounds

- Seed, Dec 9, 2021, $6M — BECO Capital, A15, Global Ventures

## Investors

- BECO Capital (https://capitalatlas.ai/funds/beco-capital) — Seed
- A15 (https://capitalatlas.ai/funds/a15) — Seed
- Global Ventures (https://capitalatlas.ai/funds/global-ventures) — Seed