Menthum secures pre-seed funding from A15, Acasia Ventures, and Prominent Angels

By Delisha Fernandes

Menthum, a Cairo-based B2B and B2C digital savings FinTech platform announced that it has raised pre-seed funding from Egyptian venture capital firms A15, Acasia Ventures and prominent angels.

The Digital savings platform provides individuals and companies an innovative way to invest in safe treasury bills (T-bills) through a money market fund1. Licensed and regulated by Egypt’s Financial Regulatory Authority (FRA), Menthum has launched a digital money market fund in the country, partnering with a leading investment manager.

Menthum re-invented the money market fund with its technology and innovative process flow, making it simple and accessible for all. With high returns, instant liquidity, and a user-friendly mobile application, The Digital savings platform offers safe money market fund as a superior alternative to traditional bank accounts for individuals and corporates.

Customers can add money to their Menthum account by transferring money from their account to any bank in Egypt. There’s no minimum amount restriction customers can start with as little as one Egyptian pound. Money in a Menthum account is invested in a safe money market fund with returns that are almost twice as high as those of a typical savings bank account.

The platform also enables small- and medium-sized enterprises (SMEs) and large corporations to invest in its money market fund, facilitating a better way to enhance their yield on their working capital.