Innovative Egyptian Fintech Startup Exits MENA Raises $1.25m in Pre-Seed Round
Egyptian startup Exits MENA, a fintech investment banking marketplace, has extended its seed round to US$1.25 million with investment from Silicon Valley-based venture firm Practical VC.
Founded in 2022 by Mohamed Aboulnaga, Ahella El Saban and Ayman El Tanbouly, Exits MENA aims to facilitate M&As and investments in companies by offering a seamless and fully integrated online solution on its platform and a full-fledged financial advisory service.
Since the platform’s beta launch, Exits MENA has successfully closed six deals, with a combined value exceeding US$10 million, spanning 15 verticals throughout the region. To further expand its scope and enhance services, it recently obtained its securities promotion and underwriting license from the Egyptian Financial Regulatory Authority (FRA).
The startup raised a US$1 million pre-seed funding round last year , and though the size of Practical VC’s investment is undisclosed, it has been confirmed it takes total capital raised to date by the company to US$1.25 million.
Led by general partners Dave McClure and Aman Verjee, Practical VC specialises in secondary market transactions, focusing on LP and GP interests and high-growth venture-backed companies.
“We were very impressed by the team at Exits MENA and their track record in building and growing companies, which is a great quality in an investment banking partner,” McClure said.
Source: Disrupt Africa.
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