Exits.me platform for investment services signed an agreement for a financial advisory contract with Morni Holding, which owns a group of companies that provides an integrated system for managing logistics, roadside assistance, and insurance technology services after vehicle accidents.
Morni Holding plans to invest $10m in Egypt between now and 2030.
The signing took place in Dubai, UAE, in the presence of the CEO and Co-Founder of the platform Muhammad Abu Al-Naga Najati, and Salman Al-Suhaibani — Founder of Morni and Head of the company’s commercial sector.
Under this contract, the Exits.me platform provides exclusive consulting services to Morni to help it implement its expansion plans in Egypt and achieve the company’s strategy for growth and business development, which aims to expand geographically in the Middle East and North Africa.
The contract comes in line with the vision of the Exits.me platform to facilitate and expand the scope of investment services for digital start-ups and small and medium enterprises in the Middle East and North Africa by activating its digital platform.
Morni succeeded in solving these emergency road problems in Saudi Arabia and in several regions of the GCC countries by providing the first smartphone application to provide roadside assistance services in the region using a network of service providers with over 33,000 professionals.
The Morni application was launched in 2015, and since its inception, the application has been downloaded more than two million times, serving more than 1.2 million customers.
To date, Morni has obtained financing exceeding $14.7m, which contributed to developing its services to include an electronic vehicle auction platform and motor insurance claims services licensed by the Central Bank of Saudi Arabia.
It also provided the first facility for end-of-life vehicle procedures in the Middle East and North Africa, which aims to assist insurance companies in their initiatives to reduce their losses as well as ensure the implementation of environmentally friendly disposal of vehicles without waste.
With a series of promising opportunities, the Egyptian market provides an attractive investment ground for new and existing value chains. This lucrative market has prompted many international and regional investors to increase their investments in Egypt.