Morni Holding, a mobility solutions platform based in Saudi Arabia has invested in its Egyptian peer Helpoo, a startup that offers road assistance and car insurance services.
The investment aligns with the Saudi company’s plans to invest USD 10mn in Egyptian mobility startups through Exits.me, a firm that provides investment servicers in Egypt and the wider Middle East region.
Set up in 2022, Helpoo offers motor vehicle insurance inspections, insurance claim management and road assistance services in Egypt. The company is also regulated by the Financial Regulatory Authority.
Morni Holding was launched in 2015 and has served over 1.2mn customers and offers a range of products such as an electronic auction platform, and an end-vehicle life facility.
Acumen invests in CropSafe
CropSafe, a Nigerian social enterprise that supports smallholder farmers, has been backed by Acumen. CropSafe uses dryers that efficiently dries grains within seven hours and preserves them for five hours before they are bagged for storage and transportation. This contrasts with traditional methods that take up to three weeks.
The company was co-founded by Osagie Azeta.