{"id":577853,"date":"2022-12-07T04:00:27","date_gmt":"2022-12-07T04:00:27","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2022\/12\/07\/saudi-auto-startup-morni-is-on-the-lookout-for-egyptian-acquisitions\/"},"modified":"2022-12-07T04:00:27","modified_gmt":"2022-12-07T04:00:27","slug":"saudi-auto-startup-morni-is-on-the-lookout-for-egyptian-acquisitions","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2022\/12\/07\/saudi-auto-startup-morni-is-on-the-lookout-for-egyptian-acquisitions\/","title":{"rendered":"Saudi auto startup Morni is on the lookout for Egyptian acquisitions."},"content":{"rendered":"

<\/a> Saudi Arabia\u2019s Morni is eyeing acquisitions in Egypt: <\/strong>Saudi roadside assistance and automotive service provider Morni<\/a> is looking to debut in the Egyptian market by acquiring local firms, and has hired Exits<\/a> as its buy-side advisor, according to a statement<\/a>(pdf)<\/a> out yesterday. The startup plans to invest USD 10 mn by the end of the decade on Egypt acquisitions as part of its regional expansion strategy, Exits co-founder Ahella El Saban told Enterprise.<\/p>\n

About Morni: <\/strong>The Saudi startup already operates in a number of GCC countries including Bahrain, serving over 1.2 mn customers. Morni is looking to expand across the region and is also looking to enter the UAE in addition to Egypt, El Saban said.<\/p>\n

Potential candidates? <\/strong>Some of the most prominent RAS players in the local market include Odiggo<\/a>, a tech company that allows drivers to connect with suppliers and service providers, and automotive service provider 3atlana<\/a>.<\/p>\n

Exits\u2019 role:<\/strong> \u201cThe buyer comes in and they have a specific expansion plan and we source and find the startups they can buy,\u201d El Saban said. \u201cThe Egyptian market, the mere size of it, makes it attractive to any investor and the exchange rate makes it a very lucrative market for many investors,\u201d she added. The advisory outfit was acquired by Mohamed Aboulnaga\u2019s Pie Consulting<\/a> earlier this year, and closed a USD 1 mn pre-seed funding round<\/a> in September.<\/p>\n","protected":false},"excerpt":{"rendered":"

Saudi Arabia\u2019s Morni is eyeing acquisitions in Egypt: Saudi roadside assistance and automotive service provider Morni is looking to debut in the Egyptian market by acquiring local firms, and has hired Exits as its buy-side advisor, according to a statement(pdf) out yesterday. The startup plans to invest USD 10 mn by the end of the […]<\/p>\n","protected":false},"author":1,"featured_media":577854,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7258],"tags":[144,72,7128,10524,219,95,123],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-577853","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-startup-watch","tag-automotive","tag-enterpriseam","tag-ma-watch","tag-morni","tag-saudi-arabia","tag-startup-watch","tag-startups","wpautop","entry"],"acf":{"mongo_id":"68923a01-2c8c-48b6-a8f1-cc56f1b25f33","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2022\/12\/128.jpg","photo_position":"above","related_issue":[577842],"teaser":"","voice_url":""},"yoast_head":"\nSaudi auto startup Morni is on the lookout for Egyptian acquisitions. - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2022\/12\/07\/saudi-auto-startup-morni-is-on-the-lookout-for-egyptian-acquisitions\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Saudi auto startup Morni is on the lookout for Egyptian acquisitions.\" \/>\n<meta property=\"og:description\" content=\"Saudi Arabia\u2019s Morni is eyeing acquisitions in Egypt: Saudi roadside assistance and automotive service provider Morni is looking to debut in the Egyptian market by acquiring local firms, and has hired Exits as its buy-side advisor, according to a statement(pdf) out yesterday. 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Exits will use the capital to help it switch from\u2026","rel":"","context":"In "Startup watch"","block_context":{"text":"Startup watch","link":"https:\/\/enterpriseam.com\/egypt\/category\/companies\/startup-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/9\/319.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":578275,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/12\/21\/local-healthtech-startup-checkme-acquires-doctor-online\/","url_meta":{"origin":577853,"position":3},"title":"Local healthtech startup CheckMe acquires Doctor Online","author":"enterpriseam admin","date":"21 December 2022","format":false,"excerpt":"Healthtech startup CheckMe has acquired a majority stake in virtual clinic app Doctor Online in a transaction that gives CheckMe a total market value of USD 20 mn, a statement (pdf). 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The round was led by global tech investor Prosus and Sanabil\u2026","rel":"","context":"In "Startup watch"","block_context":{"text":"Startup watch","link":"https:\/\/enterpriseam.com\/egypt\/category\/companies\/startup-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/4\/378.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":578016,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/12\/13\/pts-projects-invests-in-local-healthcare-network-edam\/","url_meta":{"origin":577853,"position":5},"title":"PTS Projects invests in local healthcare network EDAM","author":"enterpriseam admin","date":"13 December 2022","format":false,"excerpt":"Local healthcare company EDAM has new shareholders: PTS Investments Holdings\u2019 Egyptian arm PTS Projects has acquired a minority stake in local healthcare startup EDAM in a USD six-figure transaction, marking its first transaction in our local market, PTS Investments Managing Director Maha Mandour told Enterprise.Going digital: EDAM will use the\u2026","rel":"","context":"In "Startup watch"","block_context":{"text":"Startup watch","link":"https:\/\/enterpriseam.com\/egypt\/category\/companies\/startup-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/12\/255.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/577853","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=577853"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/577853\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/577842"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/577854"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=577853"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=577853"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=577853"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=577853"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=577853"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}