Octane, an Egyptian fintech startup specializing in digital fleet and on-road expense management, has secured $5.2 million in a funding round led by Shorooq Partners, Algebra Ventures, and SC Holding. Founded in 2022 by Amr Gamal and Ziad Eladawy, Octane offers a closed-loop digital wallet that consolidates all fleet-related expenses—including fuel, maintenance, spare parts, and petty cash—into a single platform.
The fresh capital will accelerate Octane’s expansion across Egypt and the broader Middle East and North Africa (MENA) region, enhance its acceptance network, and boost AI-driven capabilities such as fraud detection and route optimization. The platform already covers 2,400 petrol stations and 400 CNG outlets nationwide, serving over 1,600 corporate clients managing approximately 250,000 vehicles.
Amr Gamal, CEO and co-founder, emphasized the company’s focus on providing precise day-to-day payment management and staying ahead in cleaner mobility trends by rolling out EV-charging payment pilots. Octane’s real-time controls and analytics have helped fleet operators reduce avoidable costs by double-digit percentages.
Investors praised Octane’s clear solution to a significant market inefficiency, aiming to build the financial and expense-management infrastructure essential for digitizing logistics and fleet operations. With rising fuel prices and logistics costs, Octane’s platform meets a growing demand for smarter, automated expense tools tailored to regional compliance needs.
Octane has quickly become Egypt’s largest fleet-payment platform, backed by a growing team of 200 employees and recognized with an EEA Award for Rising Entrepreneurs of the Year. The company is positioned to capitalize on global trends toward integrated fleet expense management, bringing cutting-edge fintech solutions to the MENA market.
