With funding from Silicon Valley venture firm Practical VC, Egyptian startup Exits MENA, a fintech investment banking marketplace, has increased its seed round to US $1.25 million.
Exits MENA was established in 2022 by Mohamed Aboulnaga, Ahella El Saban, and Ayman El Tanbouly with the goal of facilitating mergers and acquisitions (M&As) and investments in businesses by providing a seamless, entirely integrated online solution on its platform as well as a full-fledged financial advisory service.
Exits MENA has successfully closed six deals totaling more than $10 million in value across 15 verticals since the platform’s beta launch. It recently acquired a securities promotion and underwriting license from the Egyptian Financial Regulatory Authority (FRA) in order to broaden its scope and improve services.
Though the amount of Practical VC’s investment is undisclosed, it has been confirmed that it brings the startup’s total capital raised to date to US$1.25 million. The startup raised US $1 million in pre-seed funding last year.
Practical VC is a specialist in secondary market transactions, focusing on LP and GP interests and high-growth venture-backed businesses. It is led by general partners Dave McClure and Aman Verjee.
“We were very impressed by the team at Exits MENA and their track record in building and growing companies, which is a great quality in an investment banking partner,” McClure said.
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