Egypt's Octane Fuels Up With USD 5.2 M To Digitise Fleet Payments Across MENA

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Egypt’s Octane Fuels Up With USD 5.2 M To Digitise Fleet Payments Across MENA

In a region where fleets keep commerce moving but payments remain stubbornly analogue, Egyptian startup Octane has secured USD 5.2 M to change that.

The Cairo-based fintech, which builds digital infrastructure for managing fuel and on-road fleet expenses, raised the round from Shorooq Partners, Algebra Ventures, and Elsewedy Capital Holding.

Octane is offering not only a virtual fuel card but also what it calls a unified fleet wallet. The platform consolidates everything from diesel to petty cash into a single digital system with real-time controls, analytics, and fraud detection.

Already embedded in over 2,800 fuel and CNG stations across Egypt, it claims to serve 1,600 corporate clients overseeing some 250,000 vehicles. And, as EVs begin to creep into the commercial mix, Octane is also piloting electric charging support.

This fresh injection of capital will accelerate Octane’s expansion across Egypt and into the wider MENA region, targeting the messy, margin-sapping expense ecosystems that plague large fleets.

For founders like Amr Gamal, the vision is to build rails for enterprise mobility that are long overdue. “We’re focused on giving fleets the precision tools they need to manage payments efficiently without added complexity,” Gamal said.

Octane’s pitch has clearly found traction with investors attuned to MENA’s digitisation curve. Shorooq, which has previously backed fleet-scale platforms like TruKKer and financial rails providers like Lean, sees Octane as laying the long-missing B2B transaction backbone for logistics-heavy businesses.

Algebra Ventures echoes the sentiment, citing the massive inefficiencies that Octane’s centralised oversight and compliance tooling can eliminate.

Globally, the space is heating up. U.S.-based Corpay and WEX have long dominated mature markets, and fintech upstarts like Coast and Fleetio are bringing innovation to fleet spending.

Octane is effectively localising this playbook, blending enterprise-grade controls with regional nuance around fuel types, tax systems, and fragmented supply networks.

In a logistics-heavy economy where fuel prices whiplash and fraud quietly eats into P&Ls, Octane’s platform promises clarity and cost control at scale.

With this new capital, it’s gunning to become the default spend layer for fleet-heavy businesses across MENA, turning a historically leaky line item into a lever for efficiency.