According to a corporate statement, Exit MENA, an investment platform created in 2022, has received the final securities promotion and underwriting license from the Egyptian Financial Regulatory Authority (FRA).
The license allows Exit MENA to grow its services and offer additional investment channels to clients, intending to support the growth of the startup ecosystem in the Middle East and North Africa (MENA) region.
In September, Exits MENA raised $1 million in a pre-seed funding round and is now permitted to offer listing and public offering services to customers on the Egyptian Stock Exchange and the SME platform, Nile Stock Exchange. Also, the firm can assist startups by going public and accessing the financial markets.
Ayman El Tanbouly, co-founder and managing director of Exits MENA, said that it was “This a significant milestone for Exits MENA and the startup’s ecosystem in the region,” “With this license, we can now offer more comprehensive services to our clients, including IPOs, and our existing M&A and private placement services.
This will usher new opportunities for startups to access funding and growth capital and make developing the country’s tech business ecosystem easier.”