After securing a USD300,000 Pre-Seed Round led by StrategicAngel Investors, Xpovi, a Robo-advisory startup, seeks to expand autonomous financial and business strategizing services.
Xpovi, a newly created startup, launched operations with the release of its “Automated BusinessPlanning” solution, which allows early-stage entrepreneurs to create financial models and business strategies with a few clicks using a web-based questionnaire.
fpovi for Digital Solutions L.L.C (“Xpovi”), a robotic advising startup based in Egypt, was formed in May 2021 by Mostafa Hisham, Mohamed Marei, and Taher Seif.
On the platform is an interactive and simple-to-answer questionnaire that introduces company strategy alternatives.
The software uses artificial intelligence and machine learning to automate data processing and the creation of financial models.
In order to democratize access to bespoke advising, it is combining the art and science of financial modeling with traditional business strategy.
Xpovi created its own algorithm to turn a web-based questionnaire with Multiple-Choice Questions, Drop Lists, and Check Lists into a comprehensive report.
Mohamed Marei, Xpovi’s CEO, expressed gratitude to the investors for their early conviction in Xpovi’s vision and founding team, as well as the support they have received while moving into a greenfield.
The firm was able to expand its workforce and produce the first Automated Business Planning online application thanks to the pre-seed investment.
He went on to say that the team plans to build out Xpovi’s data automation, artificial intelligence, and the customer experience in the next months. In order to provide their services to Egypt’s.4.0 million micro, small, and medium businesses in a cost-effective and timely manner.
The empirical rise in the technology acceptance model in today’s fast-paced environment. According to Mohamed Marei, Xpovi aims to transform financial and business consulting by enabling real-time analysis and data-driven suggestions to help planning, tracking, and decision-making.
The same-day delivery of a business plan is possible. Xpovi business plans are created in an excel format, and the process of creating them is automated when users provide answers.
There are four detailed papers in the business plan:
- financial forecasting
- assumptions sheet
- target customer
- scenario analysis
It is important to note that Robo-advisors are digital platforms that offer automated, algorithm-driven financial strategy services with hardly any human supervision.
A standard Robo-advisor takes an online questionnaire to ask questions about a startup’s financial state and future aspirations and then utilizes it to provide recommendations and automatically invest in these startups.
The key benefit of Robo-advisors is that they are less expensive than traditional financial advisors. Online platforms can provide the same services at a fraction of the cost by removing human labor.
Small startups, particularly those who are young and inexperienced, frequently seek the assistance of financial consultants or traditional financial organizations to get began, but seldom achieve their goals. For one thing, there are relatively few players in this market who conduct a thorough and need-based study and then deliver tailored solutions based on the results.
However, high-quality financial advice is expensive, and only a few startups can obtain it. In such circumstances, Robo advisers are used, which assist people in navigating the complex world of financial investing in an effective and cost-effective manner.
Xpovi not only provides these services but also, a User Manual is included in the deliverables to guide and assist users in iterating, pivoting, and changing assumptions as their business conditions change.
The business plan includes
- addressable customer base identification,
- prediction funding surplus (deficit) by source,
- prediction revenue and cost models,
- automated marketing budget, media strategy, and gaining more customers, and
- tailored employee recruitment and remuneration on a 5-year forecast basis in a multicurrency presentation.
Don’t miss important articles during the week. Subscribe to techbuild.africa weekly digest for updates.