Egypt’s Fincart, a platform that helps e-commerce SMBs improve shipping and unlock working capital, has closed an undisclosed pre-seed round of funding to improve its tech platform and grow its courier network.
Founded by Mostafa Elmasry and Nihal Ali in 2023, Fincart solves the unreliable shipping challenges that hinder e-commerce SMBs from scaling, streamlining operations for online sellers, offering affordable, efficient delivery solutions and quick access to working capital.
The startup’s undisclosed round of funding was led by Plus VC, with participation from leading regional and international investors such as Plug and Play, Orbit Startups, Jedar Capital, and other regional investors.
The newly secured funds will help improve Fincart’s technology platform, grow its courier network, and support the fast-growing e-commerce market in Africa and the Middle East.
“We are thrilled to be backed by such esteemed and astute investors who not only provide capital but also have vast strategic experience in the region,” said Mostafa Masry, co-founder and CEO of Fincart.
“Closing this round is a milestone achievement which underscores the immense potential of our market and the confidence our esteemed investors have placed in our vision and strategic approach to redefine e-commerce logistics in the region.”
