Egypt-based e-commerce operations platform Fincart has raised an oversubscribed $2.8M seed round co-led by Launch Africa and Antler MENAP. Yango Ventures, Five35 Ventures, Bluestream Capital, Hi2 Global, Kalahari Venture Labs and other regional investors also participated.
Founded in 2023 by Mostafa Masry and Nihal Ali, Fincart provides merchants with an AI-powered platform for managing shipping, customer engagement and cash advances through a single interface. The platform integrates with more than 40 courier companies across Africa.
The company said it will use the funding to develop its AI platform, grow its team, strengthen partnerships and accelerate expansion across MENA and Africa. Fincart currently serves more than 450 merchants and has facilitated nearly EGP 1 billion in gross merchandise value.
The startup originally focused on connecting merchants with last-mile delivery providers and helping them reconcile cash-on-delivery payments. It has since expanded into a broader operating system for e-commerce businesses, including delivery management, automated cash reconciliation, customer retention tools and short-term financing based on sales.
The new round follows a pre-seed investment led by Plus VC in January 2025, which was not disclosed. According to the announcement, Fincart is also preparing for expansion into new markets in 2027.
Source: Wamda
