Egyptian startup Octane, a digital platform for fleet and on-road expense management, has raised US$5.2 million in funding to accelerate the expansion of its acceptance network, deepen its technology stack and support the company’s growth across Egypt and the wider Middle East and North Africa (MENA) region.
Founded in 2022, Octane is a Cairo-based fintech offering a closed-loop digital wallet for fleets. The platform enables payments for fuel, maintenance, petty cash and consumables, complemented by spend controls and analytics that reduce waste and improve compliance.
The startup already operates Egypt’s largest fleet-payment acceptance network and serves more than 1,600 corporate clients, and it now plans to expand across MENA after securing a US$5.2 million round of funding led by Shorooq, Algebra Ventures and SC Holding.
“At Octane, we’re focused on giving fleets the rails they need to manage day-to-day payments with precision,” said Amr Gamal, co-founder and CEO of Octane. “This funding lets us broaden our acceptance network, expand AI-powered fraud-detection and route-optimisation features, and stay ahead of the shift toward cleaner, more efficient mobility, without adding complexity for our customers.”
Laila Hassan, general partner at Algebra Ventures, said her firm had been drawn to Octane by the size of the problem it was tackling, and the clarity and precision of its solution.
“In a market where billions leak through inefficiencies and fraud, Octane brings real accountability and control to fleet operators. Their vision extends far beyond fuel, laying the rails for B2B transactions across Egypt’s logistics and mobility sectors. We’re proud to back a team that’s solving today’s pain points while setting the foundation for a more efficient, transparent future,” she said.
