Menthum, a Cairo-based digital savings platform, has successfully secured an investment in a pre-seed funding round. The round was participated by Acasia Ventures, A15, and a number of prominent angel investors.
Co-founded by veteran professionals Himanshu Shrimali and Ismail Sarhank, Menthum is a B2B and B2C digital savings platform that provides individuals and companies an innovative way to invest in safe treasury bills (T-bills) through a money market fund. Licensed and regulated by Egypt’s Financial Regulatory Authority (FRA), Menthum has launched the first digital money market fund in the country, partnering with a leading investment manager.
Menthum’s platform, which went live on app stores in November last year, is designed to be simple and accessible for all, offering high returns, instant liquidity, and a user-friendly mobile application. The platform has positioned the safe money market fund as a superior alternative to traditional bank accounts for both individuals and corporates.
The new funding will be used to expand Menthum’s team across various functions, enhance customer acquisition, build the brand, and develop the company’s tech infrastructure.
For more details, read the full press release here.