Businesses in the Middle East/North Africa region have operational challenges in managing revenue due to the presence of various payment forms.
These businesses often use outdated methods such as excel sheets to keep a record of their collections and miss out on vital data which leads to loss of revenue and inefficiencies.
SubsBase is a no/low-code platform that helps businesses remove their overhead by managing the full subscription life cycle. A venture capital firm from the Middle East and Africa has invested in the Egyptian startup.
Existing investors FalakStartups and Arzan Venture Capital were also involved.
SubsBase is the first and only platform that caters to the MENA region. Subscription and recurring revenue businesses can use the cloud-based platform to manage their clients more efficiently.
SubsBase's operational system allows clients to simplify and keep information organized and tasks simple, integrate multiple third-party software applications, and automate billing and invoicing of subscriptions.
The problem these businesses face 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. Once we jump in, we give 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
The SubsBase platform is used by various customer segments and vertical. He describes the company as a startup and a small and medium-sized business, which he says is the sweetest spot for the company because of their purely software-as-a-service business. Clakett is one of its clients.
Farag said SubsBase has been growing 200% month over month since it was officially launched over a year ago. The platform uses a subscription-based business model and has three different plans with fixed fees from which clients can choose. Each plan charges different transaction fees for clients.
There are similar providers in the US and Europe. Should any of these platforms expand into the Middle East, they would need to integrate with local payment providers such as PayTabs, which are already on the Subs Base platform. SubsBase enjoys little or no competition in the region at the moment due to the fact that every region has its own regulations.
We will be able to help these businesses grow and scale in the market as well as be able to cater to their future needs when they decide to go to other countries. Farag said that they would grow their subscription base and enable more businesses to grow.
Subs Base is interested in serving businesses in Sub-Saharan Africa. The fund is the first in Egypt to have an investor from Africa on its cap table.
The company is looking to increase commercial and branding efforts in the region. It is hiring for its operational sales, direct sales team, customer success team, and business development team, as well as increasing output in marketing and content, educating the market on the subscription economy and how it works.
"We are growing the team and resources to be able to cater to the demands we are seeing across the region." In order to grow the market with no-code features from one side of integration with other no-code platforms, people can and are encouraged to start building businesses with subscription models.
An attractive and unique value proposition that extends beyond subscription services to include an all-inclusive and convenient platform to manage any recurring payments, from small subscriptions to car, was highlighted by the general partner at GlobalVentures.
The first subscription management platform for the region is going to be built by Mohamed and the team.
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