Egyptian digital savings startup Menthum has partnered CI Capital Asset Management to launch a USD fixed income fund to elevate the country’s savings and investment landscape.
Launched in November 2022 by veteran professionals Himanshu Shrimali and Ismail Sarhank, Menthum is a B2B and B2C digital savings platform that provides individuals and companies with an innovative way to invest in safe treasury bills (T-bills) through a money market fund.
The startup, which secured an undisclosed pre-seed round of funding in July 2023, has now partnered with CI Asset Management to launch the “Menthum USD Fixed Income Fund”, a novel US Dollar fixed income fund.
This innovative mutual fund is designed to provide both individuals and businesses with a secure, high-yield and liquid savings opportunity in US dollars. It aims to deliver stable returns by investing in low-risk, high-quality fixed income securities, including US dollar-denominated T-Bills and Eurobonds issued by the Egyptian government.
As a fully regulated product under the Financial Regulatory Authority of Egypt (FRA), this fund builds on Menthum’s vision of offering secure and smart savings solutions, making it an ideal choice for those seeking to preserve and grow their wealth and manage cash in foreign currency.
“At Menthum, our mission is to create innovative financial solutions that cater to the evolving needs of people in Egypt. The launch of the “Menthum USD Savings Account”, powered by the Menthum USD Fixed Income Fund, represents a significant milestone in our quest to empower Egyptians by providing financial products that make their money work harder, thereby improving their financial well-being. We take this opportunity to express our gratitude to the FRA for their pragmatic regulations and supportive approach that are conducive to innovation and progressive governance,” said Himanshu Shrimali, co-founder and CEO of Menthum.
