Egypt’s Fincart.io Secures Pre-Seed Funding For E-Commerce Logistics

Fincart.io, an Egyptian e-commerce logistics platform, has closed its pre-seed funding round, led by Plus VC, with participation from Plug and Play, Orbit Startups, Jedar Capital, and other investors. The funding amount remains undisclosed, but this investment spotlights the growing demand for efficient shipping solutions in the MENA region’s booming e-commerce market.

Founded in 2023 by Mostafa Elmasry and Nihal Ali, Fincart.io provides small and medium-sized businesses (SMBs) with integrated multi-courier shipping, seamless last-mile delivery, and access to working capital. The platform addresses key logistical challenges faced by SMBs in the rapidly growing USD 75 B MENA e-commerce market.

Fincart.io’s user-friendly platform includes a courier recommendation engine, consolidated payments, and exclusive shipping rates, helping merchants streamline their operations and reduce costs. The company has already seen impressive growth, achieving fourfold year-over-year expansion.

The newly raised funds will be used to enhance Fincart.io’s technology, expand its courier network, and deepen its presence in the e-commerce markets across Africa and the Middle East. Co-founder Elmasry expressed excitement about the backing from esteemed investors, while Plus VC’s Hasan Haider emphasised the platform’s potential to address logistical barriers and support the growth of MENA’s e-commerce sector.