Egyptian e-commerce logistics platform Fincart.io has announced the successful closure of its pre-seed funding round, led by Plus VC, a prominent venture capital firm in the Middle East and North Africa (MENA). The round saw participation from leading regional and global investors, including Plug and Play, Orbit Startups, Jedar Capital, and other strategic partners. While the exact funding amount remains undisclosed, the investment underscores the growing appetite for innovative solutions in the region’s e-commerce logistics sector.
Founded in 2023 by Mostafa Elmasry and Nihal Ali, Fincart.io aims to address a critical bottleneck in the e-commerce ecosystem: reliable and efficient shipping. The platform offers small and medium-sized businesses (SMBs) integrated multi-courier shipping solutions, seamless last-mile delivery operations, and access to working capital to fuel growth.
The MENA region’s e-commerce market is poised for exponential growth, with projections estimating its value at $75 billion by 2028. This surge is driven by over four million SMBs, which form the backbone of the industry but often grapple with logistical challenges that impede scalability. Fincart.io addresses these pain points by consolidating the region’s largest courier network into a single platform, enabling merchants to streamline order management, access competitive shipping rates, and unlock financial support.
“We are thrilled to be backed by such esteemed investors who share our vision for revolutionizing e-commerce logistics,” said Mostafa Elmasry, Co-Founder and CEO of Fincart.io. “This funding milestone underscores the confidence in our approach and the immense potential of our market. By empowering SMBs with a seamless platform, we are enabling them to scale efficiently and capitalize on the growing demand for e-commerce across Africa and the Middle East.”
Fincart.io’s user-centric platform boasts a courier recommendation engine, consolidated payments, and exclusive shipping rates, delivering enhanced efficiency for merchants. The company’s rapid growth — reportedly achieving fourfold year-over-year expansion — and strong organic referrals highlight the platform’s effectiveness in addressing market needs.
The funding round was spearheaded by Plus VC, which has a track record of backing transformative startups in the MENA region. “We are proud to support Mostafa, Nihal, and the Fincart.io team as they tackle one of the most pressing challenges in e-commerce logistics,” said Hasan Haider, Founder and Managing Partner at Plus VC. “Their innovative platform equips SMBs to overcome logistical barriers, driving exponential growth and positioning Fincart.io as a pioneer in this space.”
William Bao Bean, Managing General Partner at Orbit Startups, echoed this sentiment, emphasizing the sector’s growth potential. “E-commerce in MENA is taking off, with projections exceeding $50 billion this year alone. Efficient shipping is a critical enabler for SMBs to sell profitably, and Fincart.io is well-positioned to elevate e-commerce fulfillment for merchants and carriers alike.”
Sherif Nessim, Founder and Managing Partner of Jedar Capital, highlighted the company’s data-driven approach as a key differentiator. “Logistics and delivery delays remain major hurdles in the Middle East and Africa’s e-commerce sector. Fincart.io’s extensive courier partnerships and innovative solutions make it a go-to platform for businesses seeking reliable shipping solutions.”
The newly secured funding will be allocated towards enhancing Fincart.io’s technology platform, expanding its courier network, and deepening its footprint in the fast-growing e-commerce markets of Africa and the Middle East.
Co-founder and COO Nihal Ali emphasized the company’s commitment to enabling SMBs’ growth. “Our platform empowers merchants to improve delivery performance, achieve full coverage, and scale seamlessly. With a strong foundation and an expanding network, we are set to redefine e-commerce logistics in the region.”
As Fincart.io advances its mission, the company’s leadership remains focused on empowering merchants with the tools and infrastructure needed to thrive in a dynamic and competitive market.
A Look At Fincart.io
Fincart.io is a Cairo-based e-commerce logistics platform dedicated to streamlining shipping for small and medium-sized online sellers in Africa and the Middle East. By integrating the region’s largest network of courier partners, Fincart.io provides cost-effective and efficient shipping solutions designed to support the growth of the region’s e-commerce sector.