INVIA secures $1.2M to simplify AI financial platform for SMEs in Egypt

Egyptian fintech startup INVIA has secured $1.2 million from angel investors and strategic partners to enhance its AI-powered financial operating system for small and medium-sized enterprises.

INVIA was founded in 2023 by Yehia Ashour, Ahmed Zeinhom, and Omar Aboulmagd to solve a common problem for small and medium-sized enterprise (SME) owners: the difficulty of managing financial tasks.

The platform combines bookkeeping, cash flow tracking, inventory, and manufacturing operations into a simple interface. This eliminates the need for users to rely on multiple systems.

What makes this product easy to use is how it handles inputs. Instead of making business owners learn complicated accounting software, INVIA lets them log transactions and manage records using text, voice notes, or uploaded invoices. The platform then takes care of the backend work, providing SMEs with real-time financial updates without requiring accounting expertise.

The $1.2 million in funding will be used to speed up product development, enhance the company’s engineering and data capabilities, while expanding customer acquisition within Egypt’s SME sector. This segment has traditionally been underserved by fintech solutions focused on larger enterprises.

Beyond accounting: INVIA’s bigger ambition

The startup is positioning itself beyond a fintech tool. INVIA’s long-term vision is to develop into a comprehensive business operating system, with plans to incorporate HR, point-of-sale, and CRM functionalities into the platform.

The goal is to provide business owners with a single platform to manage their entire operations, not just their finances.

Many fintech startups in Africa and the Middle East are expanding beyond just payments and loans. They aim to create better tools for small businesses. Small and medium-sized enterprises (SMEs) often lack the resources to combine multiple complex tools.

An affordable, easy-to-use platform can fill this gap in the market.

Read also: Egypt’s Flextock raises $12.6M Series A led by TLcom to boost e-commerce platform across MENA

Egypt has one of the largest SME sectors in the region. Small businesses provide a significant number of jobs and contribute greatly to the economy. However, many of these businesses still use manual methods or basic spreadsheets to manage their finances. INVIA wants to help fix this problem.

The startup has not revealed the identities of its investors or the current number of customers. With the new funding secured, the company aims to focus on product development and user growth in Egypt before considering any potential expansion into the region.