EXITS MENA, a leading fintech advisory and arrangement firm for startups and SMEs in the Middle East and North Africa (MENA) region, is expanding its operations to Saudi Arabia. The company has partnered with prominent Saudi investors, including Ammar Ahmed Shata, founder of Ghutra Ventures, who will serve as non-executive chairman of the new joint venture.
The expansion represents a significant milestone in EXITS MENA’s commitment to supporting entrepreneurship and innovation across the region. The company aims to leverage Saudi Arabia’s dynamic market environment and Vision 2030 initiative to foster growth and drive innovation among startups and SMEs.
“I am delighted to be part of EXITS MENA’s journey and to bring its expertise to the vibrant market of the Kingdom of Saudi Arabia,” said Shata. “This partnership is not just an investment, but a commitment to foster innovation and support the growth of startups and SMEs in the region.”
EXITS MENA specializes in providing a comprehensive suite of services tailored to the unique needs of startups and SMEs, including financing, investment readiness, and strategic consulting. The company has a proven track record, having closed nine successful deals over the past year and a half, with a portfolio of over 40 consulting contracts valued at approximately $180 million.
The Saudi Arabian market offers unparalleled opportunities in mergers and acquisitions (M&A) and fundraising, driven by the rapid expansion of the SME sector and the Vision 2030 initiative, which aims to increase the SME sector’s contribution to GDP from 20% to 35% by 2030. Government initiatives, such as the establishment of the General Authority for Small and Medium Enterprises (Monsha’at) and the launch of the Saudi Venture Capital Company (SVC) with a $1.07 billion fund, are further boosting demand for specialized advisory services.
EXITS MENA is well-positioned to capitalize on these dynamics. By providing tailored advisory and regulatory services, the company aims to become a key player in the Kingdom’s economic transformation.
“Our expansion into Saudi Arabia represents a milestone in our journey to be the main driver of investment and growth in the MENA startup ecosystem,” said Mohamed Abou El Naga Nagaty, co-founder of EXITS MENA. “With the support of Mr. Ammar, the expertise of the investors in the sector, and the establishment of this joint venture, we are fully confident in our ability to fill the gaps in the startup ecosystem and drive significant growth and investment in the Kingdom.”
EXITS MENA plans to apply for the necessary CMA license before commencing its business activities Saudi Arabia. By partnering with Jeddah-based Gotrah Venture, EXITS MENA aims to be the key driver of investment and growth in the MENA entrepreneurship ecosystem, by enabling startups and SMEs to reach their full potential and enhance their access to capital.