Egypt-based and MENA servicing subscription startup SubsBase raised $2.4 million in SEED led by Global Ventures, a MEA-focused venture capital firm with participation from HALA Ventures, P1 Ventures, Plus Venture Capital (+VC), Plug and Play, Ingressive Capital, Camel Ventures, and 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.
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.”
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.
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. Businesses in MENA face unique challenges with revenue management. As the first and only recurring revenue management platform in the MENA region, we are positioned to capitalize on this, empowering our customers to focus on their core business instead of day-to-day operations, payments, and collection.”
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 the first-mover advantage and aims to roll out its platform across MENA. SubsBase 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. Noor Sweid, General Partner at Global Ventures, said: "In SubsBase, we find a company powered by a solid team with strong vision and a wealth of technical and commercial experience. 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."