Revolutionizing E-Commerce Logistics: MENA's Fincart Attracts Investors for Game-Changing Solutions

Revolutionizing E-Commerce Logistics: MENA’s Fincart Attracts Investors for Game-Changing Solutions

Fincart.io is revolutionizing the logistics landscape for e-commerce small and medium businesses (SMBs) by addressing shipping difficulties and unlocking working capital. Recently, the platform successfully completed a pre-seed funding round aimed at enhancing its services.

Funding Round Details

Although the total funding amount has not been disclosed, the round was led by Plus VC, a prominent venture capital firm in the MENA region. Other notable investors included:

Company Overview

Founded in 2023, Fincart.io aims to solve the unreliable shipping systems that hinder e-commerce businesses from growing. The platform provides online sellers with:

  • Affordable delivery options
  • Quick access to working capital

Plans for Growth

The newly acquired funding will be instrumental in:

  • Enhancing its technology platform
  • Expanding the courier network
  • Supporting the burgeoning e-commerce market in Africa and the Middle East

The e-commerce sector in this region is projected to reach $75 billion by 2028, encompassing over 4 million small and medium-sized online sellers.

CEO’s Perspective

Mostafa Masry, CEO and co-founder of Fincart.io, expressed his enthusiasm: “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.” He added that closing this funding round marks a significant milestone, highlighting the potential of their market.

Market Growth and Strategy

Fincart.io has reported a remarkable fourfold increase in growth year-over-year, primarily driven by strong organic referrals. The company focuses on addressing critical challenges faced by online sellers in the logistics domain.

Investor Insights

Hasan Haider, founder and managing partner of Plus VC, noted: “Fincart.io’s innovative platform empowers SMBs to overcome logistical barriers and scale seamlessly.” He emphasized the company’s potential to become a leader in e-commerce logistics, making it an invaluable partner for SMBs in the region.

READ ALSO  NymCard Raises $33M in Series B Funding to Revolutionize Embedded Finance Across MENA

For more insights on e-commerce trends, visit Forbes.

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