Egypt’s EXITS MENA Enters Saudi Arabian Market Through Strategic Joint Venture

EXITS MENA, a fintech arrangement platform aimed at startups and small and medium-sized enterprises within the MENA area, has declared the creation of a new joint venture in Saudi Arabia.

Established in 2022 by Mohamed Aboulnaga, Ahella El Saban, and Ayman El Tanbouly, EXITS MENA will enable M&As as well as investments in companies by providing a perfect end-to-end online platform and also delivering a comprehensive financial advisory service.

The startup had recently raised US$1.25 million in pre-seed funding a year ago and has now ventured into the Saudi Arabian market in a new joint venture with help from a group of prestigious Saudi investors led by Ammar Ahmed Shata, the founder of Gotrah Ventures, who shall soon be serving as the non-executive chairman of this new joint venture.

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This strategic development is a major achievement for EXITS MENA, as it cements the company’s dedication to filling the market’s voids in the entrepreneurial sphere across the MENA area. As an on-ground company in Saudi Arabia, EXITS MENA envisions creating new opportunities for the Kingdom’s market and nurturing innovation among startups and SMEs.

“Our expansion into Saudi Arabia marks a significant milestone in our journey to be the leading catalyst for investment and growth in the MENA region’s entrepreneurial ecosystem. With Mr Ammar, industry expertise, and the creation of this joint venture, we are confident in our ability to bridge the gaps in the entrepreneurial ecosystem and drive substantial growth and investment in the Kingdom,” said Mohamed Abuelnaga Nagaty, Ahella El Saban and Ayman El Tanbouly.

“This expansion will enable us to provide unmatched support to startups and SMEs, empowering them to navigate the complexities of the market and achieve their business objectives. Additionally, we recognize the critical importance of secondary share sales in providing liquidity for founders and early investors. By facilitating these transactions, we help startups and SMEs progress towards successful exits, ensuring sustainable growth and rewarding outcomes for all stakeholders involved.”