*Data updated daily at 18:00 EAT
Egypt-based fintech Menthum has raised pre-seed funding from Acasia Ventures, along with A15 and other angel investors. The funding will go towards expanding Menthum’s team, customer acquisition, brand building and developing the company’s tech infrastructure.
Menthum is a B2B and B2C digital savings platform that enables individuals and companies to invest in safe treasury bills (T-bills) through a money market fund. Individuals sign up on the Menthum mobile app using their mobile number and scan their National ID, the app fetches the ID data automatically. After the Menthum team completes the KYC review process, the account is activated. The customers can add money to their Menthum account by transferring money from their account from any bank in Egypt.