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In strategic joint venture, Egypt’s EXITS MENA aims to grow its operations in Saudi Arabia

A new strategic joint venture has been established in Saudi Arabia by EXITS MENA, a fintech arrangement platform for startups and small and medium-sized enterprises (SMEs) in the MENA region.

EXITS MENA was established in 2022 by Mohamed Aboulnaga, Ahella El Saban, and Ayman El Tanbouly with the goal of facilitating M&As and investments in businesses by providing a comprehensive financial advisory service along with a seamless, fully integrated online solution on its platform.

After closing a US $1.25 million pre-seed funding round a year ago, the startup has now established a joint venture in Saudi Arabia with the support of a group of renowned Saudi investors led by Gotrah Ventures founder Ammar Ahmed Shata, who will also serve as the non-executive chairman of the new joint venture.

This calculated action is a major turning point for EXITS MENA and confirms the organization’s resolve to close the gaps in the MENA region’s entrepreneurial ecosystem. Through establishing a physical presence in Saudi Arabia, EXITS MENA hopes to take advantage of the Kingdom’s dynamic market environment to promote innovation and growth in startups and SMEs.

“Our expansion into Saudi Arabia marks a significant milestone in our journey to be the leading catalyst for investment and growth in the MENA region’s entrepreneurial ecosystem. With Mr Ammar, industry expertise, and the creation of this joint venture, we are confident in our ability to bridge the gaps in the entrepreneurial ecosystem and drive substantial growth and investment in the Kingdom,” said Mohamed Abuelnaga Nagaty, Ahella El Saban and Ayman El Tanbouly.

“This expansion will enable us to provide unmatched support to startups and SMEs, empowering them to navigate the complexities of the market and achieve their business objectives. Additionally, we recognise the critical importance of secondary share sales in providing liquidity for founders and early investors. By facilitating these transactions, we help startups and SMEs progress towards successful exits, ensuring sustainable growth and rewarding outcomes for all stakeholders involved.”

 

 

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