Exits.me, a platform for fintech and investment banking in Egypt, has completed a Pre-Seed round and raised $1 million. Exits provided this round of funding. Based in the United Kingdom, an influential Egyptian angel investor organisation, Baseeta Investments Holding and Mawelni Holding for Financial Investments, and the company’s founders.
PIE, a mergers and acquisitions firm Mohamed Aboulnaga established earlier this year, was the company that first bought Exits.me. After making the BETA version of the platform available to users, the development team is now working to turn it into a new platform that will fill a gap in the market for mergers and acquisitions and funding support for SMEs and startups in the MENA region that has been largely ignored.
The Exits.Me Funding
According to Omar Wagdy, one of the investors, “we want startups and SMEs who are off the radar of conventional investment banks to have a user-friendly and automated means of engaging in M&A and investment opportunities.” This goal was expressed in the context of providing investment opportunities. The company’s founders further say that in today’s market, prospects for investments are difficult for companies with lower ticket sizes, which is why investment banks tend to ignore such companies. It is made much more difficult by the present and continued market conditions and the excessive fee markups and retainer expenses expected by traditional investment banks. This round is just the start of what is needed to achieve this goal and give people from all walks of life in MENA the chance to invest.
According to studies from around the world, the number of people leaving their jobs in the Middle East increased by more than three times between 2012 and 2018, and this trend is expected to continue at higher multiples. In addition, a report by E&Y states that in the first half of 2022, the MENA area registered 359 mergers and acquisition deals with a total value of $42.6 billion despite the volatility of the global market. The surge in mergers and acquisitions activity corresponds to a 12% increase in the number of deals completed year-on-year (YoY). These deals are driven by the United Arab Emirates, Egypt, Saudi Arabia, Morocco, and Oman.
In response to the funding, one of the angel investors, Omer Amer, made the following statement: “The Exits.me team anticipates seeing continued growth in the need for M&A/funding across the region within the next three to five years, and this fresh capital will enable Exits.me to address this increasing gap.”
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Exits.Me set to launch a new product
Exits.me has already closed many deals with a total value of $110k before its launch. It presently has 25+ signed active sell-side and buy-side advisory mandates, in addition to 30 others with a value of between $150-200 million and is still in the pipeline. The platform is also acquiring its crowdfunding licence from the Financial Regulatory Authority to manage and arrange crowdfunding campaigns. Once this licence is obtained, it will open the door to a new investment product for the MENA market, allowing anyone to invest, regardless of their capacity.
The company’s founders aim to assist the local community by elevating the profile of investments and promoting education about the significance of early investments across all business functions and verticals. Their point of view is that everyone, no matter their background, should be able to understand how to invest using digital means entirely.
Omar Amer, Abdulmuguid Amer, Omar Wagdy, Adham Wagdy, and Ayman Essawy are only some of the Egyptian angel investors interested in this venture.
About Exits.Me
Exits.me was established in 2022 by Mohamed Aboulnaga, Ahella El Saban, and Ayman El Tanbouly to ease the process of mergers and acquisitions (M&As) and company investments. The company offers a complete and easy-to-use online solution and a full-fledged financial advisory service on its platform.