Ennota

Ennota

A young financial management startup, focusing on cash flow management, budgeting and projections for small businesses.

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DateInvestorsAmountRound
investor

€0.0

round

$20.0k

Grant
Total Funding000k
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Ennota provides a cloud-based financial management solution specifically designed for Small and Medium-sized Enterprises (SMEs) in the Middle East and North Africa (MENA) region. The company was founded in 2014 by Mohamed Hamada and is headquartered in Alexandria, Egypt. Initially, the venture was bootstrapped by Hamada before securing seed funding.

The core of Ennota's offering is a simplified financial management application aimed at business owners who may have limited financial expertise. The platform is designed to enhance financial literacy and provide actionable insights into business operations. Key features include tools for managing budgets, tracking loans, monitoring assets, and following up on payments. The service operates on a subscription-based business model, with monthly fees ranging from $5 to $10, a shift from an initial free trial model. Ennota's system simplifies financial data to help SMEs grow by better understanding their operational performance.

The company has demonstrated steady growth and strategic development. After its launch, Ennota was accepted into the Flat6Labs accelerator program, which invested $15,000 for a 15% equity stake. A significant milestone was achieved when the company secured an additional $20,000 after placing third in a competition at the Enriching the Middle East's Economic Future Conference in Doha in May 2014. These funds were instrumental in refining the application's algorithm and adding new features. To facilitate online payments, Ennota has integrated with the OneCard service in collaboration with Fawry. The company also engages in partnerships to expand its reach, such as collaborating with the Alexandria Business Association to provide financial management training to small and micro-business owners.

Keywords: financial management software, SME accounting, MENA startups, cloud-based finance, business financial insights, Ennota, Mohamed Hamada, Flat6Labs, Alexandria tech, Egyptian startups, small business bookkeeping, financial literacy tools, subscription-based software, online payment integration, asset tracking, loan management, budget management, business performance analytics, Fawry integration, Alexandria Business Association

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