The seed funding for the Egyptian business Exits MENA, which is a platform for fintech investment banking, has been increased to $1.25 million due to an investment from the Silicon Valley-based venture capital firm Practical VC.
Exits MENAan Egyptian based company was established in 2022 by Mohamed Aboulnaga, Ahella El Saban, and Ayman El Tanbouly with the intention of easing the process of mergers and acquisitions (M&As) as well as investments in enterprises. To this end, the company provides a streamlined and comprehensive online solution on its platform as well as a full-fledged financial advising service.
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Exits MENA’s achievements
Since the beta launch of the site, Exits MENA has successfully closed six deals throughout the region, with a combined value that is greater than $10 million. These sales span 15 different verticals. It just got its securities marketing and underwriting licence from the Egyptian Financial Regulatory Authority (FRA), which will allow it to further extend its reach and improve the quality of the services it provides.
Although the amount of Practical VC’s investment has not been made public, it has been revealed that it brings the total amount of money that the company has raised to date to a total of US$1.25 million. The pre-seed funding round for the startup was completed last year and was worth US$1 million.
Practical VC engages on secondary market transactions, with a primary focus on limited partner and general partner interests, as well as high-growth venture-backed companies. The company is led by general partners Dave McClure and Aman Verjee.
“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.
About Exits MENA
Exits MENA is an investment platform that was established in 2022 by Mohamed Aboulnaga, Ahella El Saban, and Ayman El Tanbouly. The platform offers a wide variety of investment services to startups and small and medium-sized enterprises (SMEs).
Building and developing startups/businesses in services/products in different geographies employing a wide variety of talent and technology is one of the primary focuses of Exits MENA’s efforts, which are directed towards assisting an increased number of individuals in acquiring jobs that provide a decent means of subsistence.
To date, Exits MENA has been instrumental in the completion of six transactions that have a combined value of more than ten million dollars.
The creator of an online investment platform that allows consumers and company owners to buy and sell new enterprises and startups. It is possible for startups and SMEs to automate merger and acquisition transactions, as well as investment deals, and receive seamless and fully integrated support through the use of the platform that the company provides, which connects business sellers and buyers and makes it easier for interested parties to negotiate the purchase of their preferred businesses with the assistance of an advisory team.
MENA has 12 Exits in 2022 across industries and strategies. The 12 Exits closed in the first two months of 2022 are 4 shy of full-year 2020 and 300% higher than Q1 2021. On the surface, MENA startups are consolidating after 2021’s massive Exits.