Exits MENA, an investment platform founded in 2022, has secured the final securities promotion and underwriting license from the Egyptian Financial Regulatory Authority (FRA), according to a statement from the company.
The license will enable Exits MENA to expand its services and provide additional investment channels to clients, with a view to supporting the growth of the startup ecosystem in the Middle East and North Africa (MENA) region.
Exits MENA raised $1 million in a pre-seed funding round last September and is now authorised to offer listing and public offering services to clients on the Egyptian Stock Exchange and the SME platform, Nile Stock Exchange. The company will also be able to help startups navigate the process of going public and accessing the capital markets.
"This is a significant milestone for Exits MENA and the startup's ecosystem in the region," said Ayman El Tanbouly, co-founder and managing director of Exits MENA. "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 open up new opportunities for startups to access funding and growth capital and contribute to developing the country's tech business ecosystem."