STARTUPS-

#1- Exits gets Silicon Valley money: Regional investment platform Exits has raised fresh funding from Silicon Valley-based Practical Venture Capital (PVC), it said in astatement (pdf) yesterday. The firm declined to disclose the value of the investment when we reached out today, saying only that it has raised a total of USD 1.25 mn to date. This includes the USD 1 mn in pre-seed funding raised in 2022.

About Exits: Founded last year by Ahella El Saban (LinkedIn), Mohamed Aboulnaga (LinkedIn), and Ayman El Tanbouly (LinkedIn), the company offers investment banking and M&A services for startups and SMEs across MENA, both through its online investment marketplace and offline. The firm obtained a securities promotion and underwriting license earlier this year, allowing it to advise companies looking to go public on the EGX. Since its launch, the company has closed six transactions worth more than USD 10 mn combined, the most recent of which was Saudi-based automotive services provider Morni Holding’s investment in Egyptian auto startup Helpoo.

#2- Menthum closes first pre-seed round: Egyptian digital money market fund Menthum has completed a pre-seed funding round, receiving investment from venture capital firms Acasia Ventures and A15 in addition to unnamed angel investors, according to a press release (pdf) out yesterday. Investors declined to comment on the value of their commitments to the pre-seed round or its total value when we reached out. This is the first funding round for the company, which is licensed by the Financial Regulatory Authority.

FINTECH-

aiBank onboarded on Instapay: aiBank has announced that its clients will have access to Instant Payment Network (IPN) services via Instapay, according to a press release(pdf). Instapay allows users to transfer money instantly between bank accounts and digital wallets.

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