Egypt-based logistics and e-commerce technology startup Fincart has raised $2.8 million in a seed funding round to accelerate the growth of its AI-powered shipping and operations platform across the Middle East and Africa.
The funding round was co-led by Launch Africa Ventures and Antler, with participation from Yango Ventures, Five35 Ventures, Bluestream Capital, Hi2 Global, Kalahari Venture Capital, and several other regional investors.
The newly secured capital will be used to further enhance Fincart’s technology platform, expand its team, strengthen strategic commercial partnerships, and accelerate its expansion across key markets in the Middle East and Africa.
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Speaking on the round, Fincart’s co-founder and chief executive officer Mostafa Masry said,
“With our strategy focused on strengthening the e-commerce ecosystem, this investment will enable us to deepen our partnerships, enhance our AI-powered platform, expand our infrastructure, and accelerate our growth across Africa and the Middle East”.
Also commenting, accounting manager at Fincart Mohamed Elafndy said,
“Proud moment for Fincart. Having been part of this journey as Accounting Manager for the past two years, I’ve watched Fincart grow from an ambitious idea into a platform that’s redefining how e-commerce merchants manage shipping, access financing, and scale across the Middle East and Africa.
“This funding marks a new chapter, and I couldn’t be more excited for what’s ahead as we expand into new markets and continue building the largest integrated courier network in the region.”
The raise comes 18 months after Fincart’s undisclosed pre-seed round and coincides with the startup’s pivot from a logistics management platform into an AI-powered operating system for e-commerce merchants.
According to the company’s CEO, the pivot was driven by merchants’ reliance on a myriad of software to manage shipping, customer support, marketing, and payments.
Notably, the recent investment secured, underscores growing investor confidence in technology solutions that improve operational efficiency and financial access for e-commerce businesses in emerging markets.
Founded in 2023 by Mostafa Masry and Nihal Ali, Fincart was established to address a critical challenge facing the rapidly growing e-commerce sector in Egypt and the wider Middle East and North Africa (MENA) region.
The founders observed that despite the industry’s strong growth, merchants were losing significant revenue due to unreliable shipping services, fragmented customer support, and limited operational tools for scaling their businesses.
To solve these challenges, Fincart developed an AI-powered end-to-end operating platform designed to help e-commerce businesses improve sales, streamline deliveries, and enhance customer support.
Rather than offering a single solution, the company provides merchants with a comprehensive operating system that simplifies logistics and optimises day-to-day operations.
Fincart’s mission is to help e-commerce merchants unlock new revenue opportunities by eliminating operational inefficiencies.
Through access to one of Africa’s largest courier networks and data-driven solutions such as its Instant Cash Out service for cash-on-delivery (COD) payouts, the company aims to empower the next generation of direct-to-consumer (D2C) brands to compete more effectively in an increasingly digital marketplace.
Since its launch, Fincart has attracted a growing portfolio of customers, including leading brands such as Decathlon, Carina, and In Your Shoe.
The company reports achieving fourfold year-over-year growth, driven by its focus on transforming logistics challenges into improved customer experiences, stronger retention, and sustainable business growth.