The new underwriting license granted to the Egyptian investment marketplace, Exits MENA, is a deal breaker in the MENA region. This fintech platform has been granted a securities promotion and underwriting license by the Egyptian Financial Regulatory Authority (FRA) after being approved for establishment six months earlier. With this license, Exits MENA is authorized to offer listing and public offering services to its clients on the Egyptian Stock Exchange (EGX), the small and medium-sized enterprises (SMEs) platform, and the Nile Stock Exchange (NILEX).
According to Ayman El-Tanbouly, co-founder and managing director of Exits MENA, the license will enable the platform to offer more comprehensive services, including IPOs, in addition to its existing merger and acquisition (M&A) and private placement services. This will help startups and companies meet the complex listing requirements of EGX and NILEX, including governance, legal status, financial requirements, and more. The license will also enable Exits MENA to support the growth of startups in the ecosystem and to become a leading investment platform in the region.
read alsoEgypt’s Kazyon Raises $165m to Become Africa’s Largest Discount Retailer
This platform will also qualify startups and small and medium-sized enterprises, especially in the technology sector, for mergers and acquisitions (M&As). It will provide them with necessary support to become listed. Exits MENA is the first investment platform in the region that uses fintech to connect startups and SMEs with buyers and investors by providing automated multiple investment-related services and online and offline advisory services.
In September of last year, the company raised $1 million in a pre-seed round from a group of local investors, a UK-based investment company that also goes by the name of Exits.me, Baseeta Investments Holding, and Mawelni Holding for Financial Investments. The platform has already closed many deals with a total value of $110k prior to its debut and presently has 25+ signed active sell-side and buy-side advising mandates, in addition to 30 others that have a value of between $150–200 Million and are in the pipeline.
read also Nigeria’s Nomba Raises $30M to Expand Bespoke Payment Solutions for African Businesses
Exits.me was established in 2022 with the intention of easing the process of mergers and acquisitions (M&As) as well as investments in companies. The company provides a streamlined and comprehensive online solution on its platform as well as a full-fledged financial advisory service. The company’s founders have the goal of assisting the local community by elevating the profile of investments and promoting education about the significance of early investments across all business functions and verticals.
Overall, the new underwriting license granted to Exits MENA is a game-changer in the MENA region, enabling the platform to offer more comprehensive services and to support the growth of startups and small and medium-sized enterprises in the ecosystem.
Charles Rapulu Udoh
Charles Rapulu Udoh is a Lagos-based lawyer, who has several years of experience working in Africa’s burgeoning tech startup industry. He has closed multi-million dollar deals bordering on venture capital, private equity, intellectual property (trademark, patent or design, etc.), mergers and acquisitions, in countries such as in the Delaware, New York, UK, Singapore, British Virgin Islands, South Africa, Nigeria etc. He’s also a corporate governance and cross-border data privacy and tax expert.
As an award-winning writer and researcher, he is passionate about telling the African startup story, and is one of the continent’s pioneers in this regard