Egyptian venture capital firms A15, Acasia Ventures, and prominent angels have completed an investment in Cairo-based digital savings platform Menthum, joining a pre-seed round. Traditional money market funds are usually highly inaccessible to Egyptians due to the friction associated with the traditional channels. Menthum re-invented the money market fund with its technology and innovative process flow, making it simple and accessible for all. Individuals sign up on the Menthum mobile app using their mobile number and scanning their National ID, the app fetches the ID data automatically. The customers can add money to their Menthum account by transferring money from their account from any bank in Egypt.

Source: Daily News Egypt July 10, 2023 21:53 UTC