Morni will offer technical and strategic support to Egyptian start-up Helpoo. Credit: Rob Hampson on Unsplash.

Saudi mobility solutions platform Morni Holding has invested in Egyptian firm Helpoo, which provides motor vehicle insurance inspections, insurance claim management, and road assist services.

The deal was executed by mergers and acquisitions (M&A) advisory Exits.me. Financial terms of the transaction were not revealed.

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Morni offers roadside assistance services through a smartphone app.

The latest move forms part of its long-term strategy to invest $10m in Egyptian mobility startups.

It is also expected to accelerate the firm’s plan to develop the next ‘super-app’ with roadside assistance.

Morni founder and chief commercial officer Salman Alsahibany said: “We plan to meet our expansion goals and find the best matches for them in the next few years. We look forward to creating more opportunities for existing businesses and jobs under our super-app and becoming the leaders in the region in roadside assistance and automotive services.”

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Helpoo, an integrated tech-enabled service app, is the only company with its type of licence from the Financial Regulatory Authority (FRA).

The start-up looks to become the top partner for insurers and create new standards in inspection and damage assessment for motor vehicles and road rescue services.

According to Morni managing director Shehail Alshehail, the investment will support Helpoo’s next growth phase and also create jobs. 

Helpoo will use the fresh infusion to extend its product lines and expand operations.

In addition, Morni will offer technical and strategic support to the Egyptian app via consultations, sharing of expertise, and training.