Egyptian robo-advisory startup Xpovi raises $300k pre-seed round

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Egypt’s Xpovi, a robo-advisory startup offering autonomous financial and business planning services, has closed a US$300,000 pre-seed funding round to help it scale.

Founded in May of last year, Xpovi introduces business planning solutions through an interactive, and easy-to-answer questionnaire. The product capitalises on artificial intelligence and machine learning to enable data sorting automation and financial models building.

Xpovi business plans are designed in an Excel format; the construction of which takes place robotically as users submit answers. The business plan includes four detailed sheets – forecast financial statements, assumptions, addressable clientele, and scenario analysis. The deliverables include a user manual, to guide and help users iterate, pivot, and change assumptions as their business circumstances change, effortlessly.

The pre-seed funding comes from a group of strategic angel investors, and will be used to help Xpovi scale more quickly.

“We are grateful for our investors’ early-on belief in Xpovi’s vision and founding team, and the support we received while venturing into a greenfield. The pre-seed round has enabled us to grow our team and launch the first Automated Business Planning web-application. Over the upcoming few months, we plan to upscale Xpovi’s data-automation, artificial intelligence, and user experience. In preparation to offer our services to four million micro, small and medium enterprises operating in Egypt in a feasible and time-efficient manner,” said Mohamed Marei, Xpovi’s CEO.

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Passionate about the vibrant tech startups scene in Africa, Tom can usually be found sniffing out the continent's most exciting new companies and entrepreneurs, funding rounds and any other developments within the growing ecosystem.

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