Egyptian Robo-advisory startup Xpovi bags US$300k in a pre-seed round

EGYPT – Xpovi, a Robo-advisory startup has closed a US$300,000 pre-seed funding round to expand autonomous financial and business strategizing services in Egypt.

Robo-advisors are digital platforms that offer automated, algorithm-driven financial strategy services with hardly any human supervision.

The latest funding round was led by some strategic angel investors and will use the fund to expand its workforce and produce the first Automated Business Planning online application.

Founded in 2021 by Mostafa Hisham, Mohamed Marei, and Taher Seif, Xpovi has launched operations with the release of its “Automated Business Planning”.

The program allows early-stage entrepreneurs to create financial models and business strategies with a few clicks using a web-based questionnaire.

The startup offers an interactive and simple-to-answer questionnaire that introduces company strategy alternatives on its platform.

The software uses artificial intelligence and machine learning to automate data processing and the creation of financial models.

In order to democratize access to bespoke advising, it is combining the art and science of financial modeling with traditional business strategy.

Xpovi has created its own algorithm to turn a web-based questionnaire with Multiple-Choice Questions, Drop Lists, and Check Lists into a comprehensive report.

“We are grateful to the investors for their early conviction in Xpovi’s vision and founding team, as well as the support we have received while moving into a greenfield,” said Mohamed Marei, Xpovi’s CEO.

The team plans to build out Xpovi’s data automation, artificial intelligence, and customer experience in the next months.

In order to provide their services to Egypt’s.4.0 million micro, small, and medium businesses in a cost-effective and timely manner.

The empirical rise in the technology acceptance model in today’s demanding environment. According to Mohamed Marei,

Xpovi aims to transform financial and business consulting by enabling real-time analysis and data-driven suggestions to help with planning, tracking, and decision-making.

The same-day delivery of a business plan is possible. Xpovi business plans are created in an excel format, and the process of creating them is automated when users provide answers.

Small start-ups, particularly those who are young and inexperienced, frequently seek the assistance of financial consultants or traditional financial organizations to get began, but seldom achieve their goals.

For one thing, there are relatively few players in this market who conduct a thorough and need-based study and then deliver tailored solutions based on the results.

high-quality financial advice is expensive, and only a few start-ups can obtain it. In such circumstances, Robo advisers are used, which assist people in navigating the complex world of financial investing in an effective and cost-effective manner.

Xpovi not only provides these services but also, a User Manual is included in the deliverables to guide and assist users in iterating, pivoting, and changing assumptions as their business conditions change.

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