Fincart, an Egyptian platform focused on improving shipping and unlocking working capital for e-commerce SMBs, has closed an undisclosed pre-seed funding round. The funding aims to enhance its tech platform and expand its courier network, further supporting the growing e-commerce market in Africa and the Middle East.
Founded in 2023 by Mostafa Elmasry and Nihal Ali, Fincart addresses the challenges faced by e-commerce SMBs, providing reliable and affordable shipping solutions while offering quick access to working capital. The startup’s funding round was led by Plus VC, with participation from investors such as Plug and Play, Orbit Startups, Jedar Capital, and other regional investors.
The newly secured funds will be used to strengthen Fincart’s technology platform, expand its courier network, and cater to the fast-growing e-commerce industry in the Middle East and Africa.
Mostafa Elmasry, co-founder and CEO of Fincart, expressed excitement about the backing, saying, “We are thrilled to be supported by such esteemed investors who bring not just capital but valuable strategic experience in the region.” He also emphasized that closing the round marks a significant milestone, highlighting the market potential and investor confidence in Fincart’s vision to transform e-commerce logistics.
