Xpovi, an Egyptian robo-advisory firm that provides autonomous financial and business planning services, has raised $300,000 in pre-seed capital to help it grow.
Xpovi, which was founded in May of last year, provides company planning solutions via an interactive and simple-to-complete questionnaire. To automate data sorting and develop financial models, the solution makes use of artificial intelligence and machine learning.
Xpovi business plans are created in Excel format, and the process of creating them is automated when users input responses. Forecast financial statements, assumptions, targeted clientele, and scenario analysis are all included in the business plan. A user manual is included in the deliverables to advise and assist customers in iterating, pivoting, and changing assumptions as their business conditions change.
A group of strategic angel investors provided the pre-seed investment, which will be utilised to help Xpovi grow more swiftly.
“We are grateful for our investors’ early-on belief in Xpovi’s vision and founding team, and the support we received while venturing into a greenfield. The pre-seed round has enabled us to grow our team and launch the first Automated Business Planning web application. Over the upcoming few months, we plan to upscale Xpovi’s data automation, artificial intelligence, and user experience. In preparation to offer our services to four million micro, small and medium enterprises operating in Egypt in a feasible and time-efficient manner,” said Mohamed Marei, Xpovi’s CEO.
