Undisclosed Pre-seed funding raised by Egyptian digital savings startup Menthum to advance infrastructure

Menthum, an Egyptian startup offering digital savings, has received an undisclosed pre-seed round of funding to support the growth of its staff and infrastructure.

Menthum is a B2B and B2C digital savings platform that offers individuals and businesses an innovative way to invest in safe treasury bills (T-bills) through a money market fund. It was founded last November by seasoned professionals Himanshu Shrimali and Ismail Sarhank.

Menthum, a leading investment manager, and Egypt’s Financial Regulatory Authority (FRA) have partnered to introduce the first digital money market fund in the nation.

A15, Acasia Ventures (previously known as Cairo Angels until announcing a rebranding late last year), and a number of well-known angel investors are included in the pre-seed funding round. The money will be used to hire more employees across a variety of functions, acquire customers, build the company’s brand, and improve its technological foundation.

“We are excited to invest in the company that’s paving a fresh way to money for Egypt,” Acasia Ventures managing partner Aly El Shalakany said. “Given Menthum’s solid team, the traction it has gained so far and its visionary roadmap, we firmly believe that the company could reshape the concept of savings tools in the country and tangibly contribute to Egypt’s financial inclusion mandate while providing alternative savings vehicles to a wide range of customer segments.”