*Data updated daily at 18:00 EAT
Mylerz, an Egyptian last-mile delivery and fulfillment innovation company, today announced the closing of a USD 9.6 Mn round led by Lorax Capital Partners to scale and expand its operations in Egypt and North Africa. Fawry, one of Egypt’s leading payment company that also participated in the round, will help bolster Mylerz’s cash collection services for its merchants.
Mylerz provides its customers with same-day delivery through a fleet of over 350 vehicles and 21 local fulfillment hubs positioned across Egypt. According to the company, the investment will enable it to construct and open a brand-new AI-enabled, automated 25,000 sqm cross-docking fulfilment centre West of Cairo by Q4 2022.