The Egyptian fintech startup Menthum, which specializes in digital savings, has recently announced a strategic collaboration with CI Capital Asset Management. This partnership marks the introduction of a new USD fixed income fund aimed at transforming the savings and investment framework within Egypt.
Menthum was established in November 2022 by industry experts Himanshu Shrimali and Ismail Sarhank. The platform operates in both B2B and B2C capacities, offering a modernized approach for individuals and businesses to invest in secure treasury bills (T-bills) via a money market fund.
Following its successful pre-seed funding round in July 2023, where the amount raised remains undisclosed, Menthum has taken a significant step forward by joining forces with CI Asset Management. Together, they have unveiled the “Menthum USD Fixed Income Fund.” This pioneering mutual fund is crafted to provide a stable, high-yield, and liquid investment option in US dollars for both individual investors and corporate entities.
The fund’s strategy focuses on generating consistent returns by allocating investments into low-risk, premium fixed income securities. These include US dollar-denominated T-Bills and Eurobonds issued by the Egyptian government, ensuring the safety and profitability of the investments.
Regulated by the Financial Regulatory Authority of Egypt (FRA), the Menthum USD Fixed Income Fund aligns with Menthum’s commitment to delivering secure and intelligent savings solutions. It stands as a compelling option for investors aiming to safeguard and enhance their capital, particularly in managing funds in foreign currencies.
Himanshu Shrimali, the co-founder and CEO of Menthum, expressed the company’s dedication to innovating financial services that meet the dynamic requirements of the Egyptian populace. The launch of the “Menthum USD Savings Account,” powered by the Menthum USD Fixed Income Fund, is a key achievement in their mission to enable Egyptians to optimize their financial resources for better economic prosperity.
Shrimali also extended his appreciation to the FRA for their forward-thinking regulations and supportive stance that foster an environment ripe for financial innovation and advanced regulatory practices.
