Egypt-based Fincart, a shipping platform, has closed an oversubscribed $2.8 million seed funding round co-led by Launch Africa and Antler MENAP, with participation from Yango Ventures, Five35 Ventures, Bluestream Capital, Hi2 Global, Kalahari Venture Labs, and other MENA and Africa-focused investors.
In a statement on Monday, Fincart said the round follows a pre-seed raise led by Plus VC with participation from Orbit Ventures, Plug and Play, and other regional investors.
Fincart will utilize the new capital to scale commercial and technology teams, invest in product development, and establish new commercial partnerships, with expansion into new markets planned for 2027. Mustafa Masry, CEO and co-founder of Fincart, said the investment will help the company accelerate its expansion across Africa and the Middle East, deepen partnerships, and build tools for merchants to sell more efficiently.
Fincart operates an e-commerce platform connecting merchants to more than 40 shipping providers, among the largest integrated shipping networks in Africa. The firm also provides short-term cash advance services based on merchant sales, and AI-powered tools for customer retention and engagement.
The company has more than 450 merchants and enterprise clients across fashion, cosmetics, accessories, and electronics. It has processed close to EGP1 billion ($20 million) in gross merchandise value through automated shipping and cash-on-delivery reconciliation workflows.
Nihal Ali, COO and co-founder of Fincart, said most merchants are managing five or six disconnected tools for shipping, payments, and customer engagement that do not integrate with each other. Fincart can replace those with a single platform.
Lina Kacyem, Investment Manager at Launch Africa, said Egypt’s e-commerce market is high volume, cash-on-delivery dominant, and underserved at the small and medium enterprise level.
Romain Assunção, Managing Partner at Antler MENAP, said the firm invested in the founders first, citing their firsthand experience with the problem and the speed and discipline with which they built the platform. Egypt can operate as a launchpad for commerce infrastructure across the Middle East and Africa, the executive added.
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