Fincart.io Secures Pre-Seed Funding to Address E-Commerce Logistics Challenges

Egypt-based logistics platform Fincart.io has successfully completed its pre-seed funding round, led by Plus VC, a prominent investor in the MENA region. The undisclosed funding round also saw participation from Plug and Play, Orbit Startups, Jedar Capital, and other regional and international investors. The raised capital will be utilized to enhance the platform's technology, expand its courier network, and strengthen its presence in the rapidly growing e-commerce markets of Africa and the Middle East.

Founded in 2023 by Mostafa Elmasry and Nihal Ali, Fincart.io was established to solve a persistent issue faced by small and medium-sized online sellers: unreliable and costly shipping services. The platform offers e-commerce businesses a unified marketplace where they can connect with multiple courier providers, streamline their operations, and access working capital to support their growth. The founders aim to address logistical inefficiencies that prevent many small and medium enterprises (SMEs) from scaling effectively in a region with immense e-commerce potential.

Speaking about the company’s vision, Mostafa Elmasry, co-founder and CEO of Fincart.io, remarked, “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 this funding marks a significant milestone in the company’s journey to redefine logistics for online sellers across the region.

With Africa and the Middle East’s e-commerce market projected to reach $75 billion by 2028, Fincart.io seeks to empower SMEs with efficient and cost-effective shipping solutions. Co-founder and COO Nihal Ali emphasized the platform’s value for merchants, stating, “Our platform enhances SMBs’ delivery performance with a courier recommendation engine, consolidated payments, and exclusive shipping rates. Merchants benefit from improved efficiency, full coverage, and tools to drive growth and scale seamlessly.”

Regional investors highlighted the importance of innovative solutions in tackling logistics challenges. Hasan Haider, founder and managing partner of Plus VC, noted, “Fincart.io’s innovative platform empowers SMBs to overcome logistical barriers and scale seamlessly. With exponential growth and a deep understanding of the market, Fincart.io is well-positioned to become pioneers in this field.”

Similarly, Sherif Nessim, founder of Jedar Capital, highlighted the persistent challenges in the e-commerce logistics sector, saying, “Logistics and delivery delays remain one of the biggest challenges in the sector that affect customer satisfaction. Fincart.io’s data-driven approach can play a pivotal role in addressing these challenges.”

As the e-commerce industry in MENA continues to grow, Fincart.io is poised to play a significant role in supporting small businesses through its comprehensive logistics solutions. The company remains committed to providing tools and resources that enable online sellers to operate more efficiently in a competitive and expanding market.