Egypt's Fincart raises $2.8m for regional expansion
Egyptian e-commerce platform Fincart has secured $2.8 million in seed funding to enhance its AI capabilities and accelerate expansion across MENA and African markets.
Egyptian e-commerce operations platform Fincart has raised $2.8 million in a seed funding round. The capital will be used to further develop its AI platform, expand its team, and strengthen strategic partnerships. The company aims to accelerate its expansion across the Middle East, North Africa, and African markets.
Founded in 2023 by Mostafa Masry and Nihal Ali, Fincart offers an AI-powered platform enabling merchants to manage shipping, customer engagement, and cash advances through a single interface. The platform integrates with over 40 courier companies across Africa.
The seed funding round, which was oversubscribed, was co-led by Launch Africa and Antler MENAP, with participation from investors including Yango Ventures, Five35 Ventures, Bluestream Capital, and Hi2 Global.
Fincart currently serves more than 450 merchants and has facilitated nearly EGP 1 billion (approximately $20,000) in gross merchandise value. The company's stated mission is to transform e-commerce operations in the region.