Egypt-based robo-advisory startup Xpovi has launched after raising a $300,000 pre-seed round led by a group of angel investors.
Founded by Mostafa Hisham, Mohamed Marei, and Taher Seif, Xpovi offers automated and real-time business and financial planning services to startups.
The pre-Seed round has enabled the startup to grow its team and expedite the rollout of its website and app, where startups build their financial and business models after completing a simple questionnaire.
Commenting on the funding round, Mohamed Marei, Xpovi’s CEO said: “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 upscaleXpovi’s data automation, artificial intelligence, and user experience. In preparation to offer our services to.4.0 Million micro, small and medium enterprises operating in Egypt in a feasible and time-efficient manner”.“In today’s fast-paced world, and the empirical growth in the 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”.
Xpovi for Digital Solutions L.L.C (“Xpovi”), was founded in May 2021, as an Egypt-focused robotic advisory startup. Introducing business planning solutions through an interactive, and easy-to-answer questionnaire at www.xpovi.com.
The product capitalizes on artificial intelligence, and machine learning to enable data sorting automation and financial models building. In pursuit of merging the art and science of financial modeling with traditional business planning to democratize accessibility to a bespoke advisory. Xpovi developed its in-house algorithm to transform a web-based questionnaire designed in Multiple-Choice Questions, Drop Lists, and Check Lists, into a fully detailed Business Plan deliverable the same day.
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 1) forecast financial statements, 2)assumptions sheet, 3) addressable clientele, and 4) 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:1) addressable clientele identification, 2) forecast funding surplus (deficit) by source, 3) forecast revenue and cost models, 4) automated marketing budget, media plan, and customer acquisition costs, and 5) tailored employees hiring and compensation.
