{"id":589934,"date":"2023-07-11T00:00:00","date_gmt":"2023-07-11T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2023\/07\/11\/two-startups-raise-cash-aibank-onboarded-to-instapay\/"},"modified":"2023-07-11T00:00:00","modified_gmt":"2023-07-11T00:00:00","slug":"two-startups-raise-cash-aibank-onboarded-to-instapay","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2023\/07\/11\/two-startups-raise-cash-aibank-onboarded-to-instapay\/","title":{"rendered":"Two startups raise cash, aiBank onboarded to Instapay"},"content":{"rendered":"<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">STARTUPS-<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">#1- Exits gets Silicon Valley money:<\/span><span style=\"\"> Regional investment platform <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/exits.me\/\" style=\"\">Exits<\/a><\/span><span style=\"\"> has raised<\/span><span> fresh <\/span><span>funding <\/span><span>from Silicon Valley-based <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/practicalvc.com\/\" style=\"\">Practical Venture Capital (PVC)<\/a><\/span><span>, it said in <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/ent.news\/2023\/7\/363.pdf\" style=\"\">a<\/a><\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/ent.news\/2023\/7\/363.pdf\" style=\"\">statement (pdf)<\/a><\/span><span> 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 <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/c0836b85-c8b1-49a5-81aa-e21a85793c75\" style=\"\">USD 1 mn in pre-seed funding<\/a><\/span><span style=\"font-weight:400;\"> raised in 2022.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">About Exits:<\/span><span style=\"\"> Founded last year by Ahella El Saban (<\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.linkedin.com\/in\/ahella888\/\" style=\"\">LinkedIn<\/a><\/span><span style=\"\">), Mohamed Aboulnaga <\/span><span>(<\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.linkedin.com\/in\/nagaty\/\" style=\"\">LinkedIn<\/a><\/span><span>), and Ayman El Tanbouly (<\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.linkedin.com\/in\/ayman-el-tanbouly-91a291110\/\" style=\"\">LinkedIn<\/a><\/span><span>), 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 <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/b029fc67-91e8-4bb8-a985-5c05cd30da00\" style=\"\">obtained a securities promotion and underwriting license<\/a><\/span><span> 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<\/span><span> 10 <\/span><span>mn combined, the most recent of which was Saudi-based automotive services provider Morni Holding\u2019s <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/47413417-b184-4c5b-9675-832759b90a72\" style=\"\">investment in Egyptian auto startup Helpoo<\/a><\/span><span style=\"font-weight:400;\">.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">#2- <\/span><span style=\"font-weight:700\">Menthum <\/span><span style=\"font-weight:700\">closes first pre-seed round:<\/span><span style=\"\"> Egyptian <\/span><span style=\"\">digital money market fund <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.menthum.com\/\" style=\"\">Menthum<\/a><\/span><span> has co<\/span><span>mpleted a pre-seed funding round, receiving investment from venture capital firms <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/acasia.ventures\/\" style=\"\">Acasia Ventures<\/a><\/span><span> and <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.a15.com\/\" style=\"\">A15<\/a><\/span><span> in addition to unnamed angel investors, according to a <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/ent.news\/2023\/7\/358.pdf\" style=\"\">press release (<\/a><\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/ent.news\/2023\/7\/358.pdf\" style=\"\">pdf<\/a><\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/ent.news\/2023\/7\/358.pdf\" style=\"\">)<\/a><\/span><span style=\"font-weight:400;\"> 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. <\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700;\">FINTECH-<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">aiBank onboarded on Instapay: <\/span><span style=\"\">aiBank has announced that its clients will have <\/span><span>access to Instant Payment Network (IPN) services via Instapay, according to a <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/ent.news\/2023\/7\/375.pdf\" style=\"\">press release<\/a><\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/ent.news\/2023\/7\/375.pdf\" style=\"\">(pdf).<\/a><\/span><span style=\"font-weight:400;\"> Instapay allows users to transfer money instantly between bank accounts and digital wallets.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The startup has now raised USD 1.25 mn to date<\/p>\n","protected":false},"author":1,"featured_media":589935,"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":[7209],"tags":[1066,6801,111,7107,72,7034,183,1458,6480,10782,123],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-589934","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-also-on-our-radar","tag-a15","tag-acasia-ventures","tag-also-on-our-radar","tag-efg-holding","tag-enterpriseam","tag-exits","tag-fintech","tag-instapay","tag-menthum","tag-practical-venture-capital","tag-startups","wpautop","entry"],"acf":{"mongo_id":"2ef4a4c5-2a52-4c37-b007-453f5e9a826f","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2023\/7\/404.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Exits raises funding from Silicon Valley\u2019s PVC. PLUS: Menthum closes pre-seed round + aiBank gets on Instapay","related_issue":[589909],"teaser":"The startup has now raised USD 1.25 mn to date","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/7\/.b6dc073b-66ff-492d-84fb-4f28f20e525d.mp3"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Two startups raise cash, aiBank onboarded to Instapay - 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\/2023\/07\/11\/two-startups-raise-cash-aibank-onboarded-to-instapay\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Two startups raise cash, aiBank onboarded to Instapay\" \/>\n<meta property=\"og:description\" content=\"The startup has now raised USD 1.25 mn to date\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2023\/07\/11\/two-startups-raise-cash-aibank-onboarded-to-instapay\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2023-07-11T00:00:00+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2023\/7\/404.jpg?fit=%2C&ssl=1\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2023\/07\/11\/two-startups-raise-cash-aibank-onboarded-to-instapay\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2023\/07\/11\/two-startups-raise-cash-aibank-onboarded-to-instapay\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Two startups raise cash, aiBank onboarded to Instapay\",\"datePublished\":\"2023-07-11T00:00:00+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2023\/07\/11\/two-startups-raise-cash-aibank-onboarded-to-instapay\/\"},\"wordCount\":297,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2023\/07\/11\/two-startups-raise-cash-aibank-onboarded-to-instapay\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2023\/7\/404.jpg?fit=%2C&ssl=1\",\"keywords\":[\"A15\",\"Acasia Ventures\",\"ALSO ON OUR RADAR\",\"EFG Holding\",\"EnterpriseAM\",\"Exits\",\"Fintech\",\"InstaPay\",\"Menthum\",\"Practical Venture Capital\",\"startups\"],\"articleSection\":[\"Also on our Radar\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2023\/07\/11\/two-startups-raise-cash-aibank-onboarded-to-instapay\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2023\/07\/11\/two-startups-raise-cash-aibank-onboarded-to-instapay\/\",\"name\":\"Two startups raise cash, aiBank onboarded to Instapay - 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Records were smashed\u2026","rel":"","context":"In &quot;PLANET STARTUP&quot;","block_context":{"text":"PLANET STARTUP","link":"https:\/\/enterpriseam.com\/egypt\/category\/planet-startup\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/1\/493.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":549596,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/09\/22\/local-fintech-investment-startup-exits-raises-usd-1-mn-in-pre-seed-round\/","url_meta":{"origin":589934,"position":1},"title":"Local fintech investment startup Exits raises USD 1 mn in pre-seed round","author":"enterpriseam admin","date":"22 September 2022","format":false,"excerpt":"Local fintech investment platform Exits has raised USD 1 mn in a pre-seed round from its UK-based investment arm of the same name, as well as Baseeta Investments Holding and Mawelni Holding, the startup said in a press release (pdf). 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