Egyptian logistics company Mylerz has secured more than $2m in fresh debt and equity funding from its existing shareholders, as it looks to strengthen its balance sheet and expand fulfilment capacity in one of Africa’s fastest-growing e-commerce markets.
The investment, which totalled over EGP100m ($2.04m), was led by private equity firm Lorax Capital Partners with participation from Egyptian digital payments group Fawry and a group of other current investors. The company said the capital would be used to finance working capital, scale its fulfilment infrastructure and extend network capacity, while continuing to invest in the proprietary technology platform that underpins its same-day and next-day delivery services.
Founded in 2019 by Samer Gharaibeh, Mylerz provides end-to-end logistics for e-commerce merchants, including warehousing, fulfilment and last-mile delivery. Its technology platform allows retailers to manage shipments, track orders and automate operations, targeting the growing number of businesses selling goods online in Egypt and across borders.
The new funding follows a larger $9.6m round in 2022, which was also backed by Lorax Capital Partners and Fawry. While the latest injection is smaller, the company framed it as a targeted move to reinforce its domestic operations at a time when e-commerce volumes are rising but the broader economic environment remains demanding. The capital includes both equity and debt, allowing the business to bolster its cash position without excessive dilution.
“This fresh funding is a strong vote of confidence from partners who know our business well,” Gharaibeh said. “Egypt remains the heart of our operations, and this capital allows us to invest with conviction in the infrastructure, technology, and people that keep us delivering for our merchants and their customers every day.”
Mylerz operates in a competitive local logistics market alongside players such as Bosta and ShipBlu, as well as larger regional courier services. The company has sought to differentiate itself through a focus on technology-led fulfilment, offering same-day delivery in key urban centres. The additional capital will allow it to expand these capabilities as online retail continues to deepen its penetration in a country of more than 110m people.
Egypt’s e-commerce sector has expanded steadily, fuelled by a young, digitally connected population and rising smartphone use. However, logistics providers have had to navigate sharp currency devaluations, elevated inflation and import restrictions that complicate inventory planning. The fresh funding provides Mylerz with a cushion to absorb working capital strains while continuing to invest.
The involvement of Fawry, Egypt’s dominant digital payments platform, also signals the growing convergence of payments and logistics in the country’s e-commerce ecosystem. Fawry’s network reaches millions of consumers, and the partnership with Mylerz could create a more seamless experience for merchants managing both payment collection and delivery.
Mylerz did not disclose a new valuation. The company, which started in Egypt before expanding to North Africa, continues to treat Egypt as its core market. The latest raise will be deployed entirely within the country, with an emphasis on increasing fulfilment centre space, upgrading technology and adding delivery personnel to handle growing parcel volumes.