Cairo-based Xpovi raises $300K pre-seed funding
Cairo, Egypt-based robotic advisory startup Xpovi has recently scored a $300K pre-seed round led by some strategic angel investors. The company plans to scale-up autonomous financial and business planning services.
Founded in May 2021, Xpovi provides business planning solutions through an interactive, and easy-to-answer questionnaire. The product leverages on artificial intelligence, and machine learning technologies to enable data sorting automation and financial models building.
Xpovi recently inaugurated operations by releasing its “Automated Business Planning” solution, to enable early-stage startups to build their financial models and business plans with few clicks through a web-based questionnaire.
Commenting on the funding round, Mohamed Marei, Xpovi’s CEO expressed excitement while also stating how the pre-seed funding will be used by the startup.
“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 c.4.0 Million micro, small and medium enterprises operating in Egypt in a feasible and time-efficient manner,” said Marei.
Xpovi’s 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 sheet; 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 business plan offers tailored data and insights on a 5-years forecast-basis in a multicurrency presentation, that includes:
- addressing clientele identification
- forecasting funding surplus (deficit) by source
- forecasting revenue and cost models
- automating marketing budget, media plan and customer acquisition costs
- tailored employees hiring and compensation.
“In today’s fast-paced world, and the empirical growth in technology acceptance model. We seek to revolutionize financial and business advisory, to enable planning, monitoring, and decision-making supported by instant-based analysis and data-driven recommendations,” Marei commented.