Menthum, a Cairo, Egypt-based provider of a B2B and B2C digital savings platform, raised an undisclosed amount in Pre-Seed funding.
The round saw participation from Acasia Ventures, A15 and a number of angel investors.
The company intends to use the funds to expand its team across various functions, customer acquisition, brand building, and advance its tech infrastructure.
Founded in 2021 by Himanshu Shrimali and Ismail Sarhank, Menthum is a FinTech company that leverages a purpose-built mutual fund, emerging payment rails and innovative workflow to create and provide a digital saving solution. The company is licensed and regulated by the Financial Regulatory Authority (FRA) of Egypt.
Individuals can sign up on its app using their mobile number and scan their National ID. The app then fetches the ID data automatically. The platform also enables SMEs and corporations to invest in its money market fund.
FinSMEs
17/07/2023