South African Logistics Firm Pargo Secures USD 4 M

South African e-commerce logistics company Pargo has raised USD 4 M in funding to support its expansion into Egypt. The company has already introduced over 500 “Pargo Points” to improve delivery options there. The funding round was led by 3Capital Ventures, with participation from Endeavor, SAAD Investment Holdings, and UW Ventures.

The investment will enable Pargo to broaden its service offerings and expand its logistics network, particularly in Egypt. The company has launched its Collect and Return service through partnerships with local outlets such as Fawry, Circle-K, and Basata.

Founded in 2015 by Lars Veul and Derk Hoekert in Cape Town, Pargo provides smart logistics solutions for e-commerce. It operates a network of 4,500 tech-enabled pickup points across Africa. The company connects major retailers like Amazon, Bash, and Jumia with over 10 million online shoppers.