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Egyptian startup Flextock, which assists customers and companies with e-commerce and fulfillment operations from warehousing and logistics to shipping and cash collection, has closed a USD 3.25 Mn pre-seed investment. The round is one of the largest pre-seed rounds in the MENA region.
The round included Egyptian VC Foundation Ventures, Y Combinator, MSA Capital, CRE Ventures, Alter Global, Jameel Investment Management Company (JIMCO), B&Y Ventures Partners, and Access Bridge Ventures. The company also received angel investments from an unnamed Sequoia Capital scout, investors in the GCC region, and Flexport.
The company plans to use the funds to boost its presence in Egypt, research and development, recruiting, and international expansion.